₦airaland Forum

thebaft:
Is there another primary auction this week?

Yes, 10th

thebaft:
Is there another primary auction this week?

Tomorrow. Don't forget to submit your bid.

Has anyone tried to buy Treasury bill from Blunest App? I have been to Stanbic bank office, they said Tbill is not available on their system since yesterday.

Nakedman:
Has anyone tried to buy Treasury bill from Blunest App? I have been to Stanbic bank office, they said Tbill is not available on their system since yesterday.

You can invest on the money market at bluenest .... it's currently 16.5% annually though.

fannybaby:
Good afternoon, please who knows how many days it will take before I get credited??

I terminated my primary market treasury bills before maturity and the customer care lady told me 24 hours

It's past 24 hours and I have not gotten the money

.

Mr odunharry Mr emmasoft ...help answer please

Does the 10% tax deductions on TBills interest that would take effect next year affect the already running TBills transactions bought this year?
Thank you

fannybaby:
.

Mr odunharry Mr emmasoft ...help answer please

thebaft:
Is there another primary auction this week?

Yes, there is a primary auction tomorrow, 10th December 2025, but it's too late to participate if you have not applied as of this morning.

fannybaby:
Good afternoon, please who knows how many days it will take before I get credited??

I terminated my primary market treasury bills before maturity and the customer care lady told me 24 hours

It's past 24 hours and I have not gotten the money

The time to get credited will depend on some factors like available buyers, tenor, the investment house or bank etc. Though I don't know the firm or bank you are using, it's possible you get credited within 24 hours or more, depending on some of the factors stated earlier.

If you have yet to be credited, you can reach out to the customer care tomorrow to get an update.

Again, here is one of the advantages of MMF over Tbills. Easy entry and exit. If you're not sure of holding your TBills to maturity, It's always better to opt for MMF, which gives you the liberty to do anything with your capital without penalty after 30 days.

francisobiabo:
Does the 10% tax deductions on TBills interest that would take effect next year affect the already running TBills transactions bought this year?
Thank you

The 10% WHT has not just started; it's actually been in effect since 2022, after the 10-year tax holiday that started in 2012 ended. The issue is that many institutions simply didn’t implement it. It now seems as though the policy begins next year because the new tax laws have placed a stronger emphasis on enforcement and compliance.

From next year, institutions will definitely apply WHT on all applicable investment instruments, regardless of when the investment tenor originally started. The only exceptions remain legally exempt instruments, such as government-issued bonds.

This would negatively affect TBills subscription going forward. Staking a huge sum for a peanut may necessarily not be encouraging.

emmasoft:
The 10% WHT has not just started; it's actually been in effect since 2022, after the 10-year tax holiday that started in 2012 ended. The issue is that many institutions simply didn’t implement it. It now seems as though the policy begins next year because the new tax laws have placed a stronger emphasis on enforcement and compliance.

From next year, institutions will definitely apply WHT on all applicable investment instruments, regardless of when the investment tenor originally started. The only exceptions remain legally exempt instruments, such as government-issued bonds.

Thank you for your response. God bless you sir.

emmasoft:
The 10% WHT has not just started; it's actually been in effect since 2022, after the 10-year tax holiday that started in 2012 ended. The issue is that many institutions simply didn’t implement it. It now seems as though the policy begins next year because the new tax laws have placed a stronger emphasis on enforcement and compliance.

From next year, institutions will definitely apply WHT on all applicable investment instruments, regardless of when the investment tenor originally started. The only exceptions remain legally exempt instruments, such as government-issued bonds.

emmasoft:
The 10% WHT has not just started; it's actually been in effect since 2022, after the 10-year tax holiday that started in 2012 ended. The issue is that many institutions simply didn’t implement it. It now seems as though the policy begins next year because the new tax laws have placed a stronger emphasis on enforcement and compliance.

From next year, institutions will definitely apply WHT on all applicable investment instruments, regardless of when the investment tenor originally started. The only exceptions remain legally exempt instruments, such as government-issued bonds.

Very true. Infact I have me paying it on CPs since 2023. I have also been paying on areas that had no holidays like bank interests and co.

My only challenge is that I have been deducted up 500k this year but I don't have any means of verifying if it's being remited. Even though they ask for my TIN always and I provide it.

The only area I have proof is my Stanbic IBTC account that will always send me WHT received anytime I have little money in my account and they pay interest. After deducting WHT on the interest, they later send me a receipt within the month for that deduction. However, they use my NIN instead not my TIN.

Any idea on how to track if the TIN is actually going to the appropriate authority in my name?

francisobiabo:
This would negatively affect TBills subscription going forward. Staking a huge sum for a peanut may necessarily not be encouraging.

Not really, because even when Tbills was 3% some years back, investors subscribed. Most of the time, when dealing with huge funds, rate takes a back seat, and the most important consideration becomes the safety of the funds.

freeman67:
Very true. Infact I have me paying it on CPs since 2023. I have also been paying on areas that had no holidays like bank interests and co.

My only challenge is that I have been deducted up 500k this year but I don't have any means of verifying if it's being remited. Even though they ask for my TIN always and I provide it.

The only area I have proof is my Stanbic IBTC account that will always send me WHT received anytime I have little money in my account and they pay interest. After deducting WHT on the interest, they later send me a receipt within the month for that deduction. However, they use my NIN instead not my TIN.

Any idea on how to track if the TIN is actually going to the appropriate authority in my name?

Though I have not done tracking of WHT remittance before now, I believe it can be done from the FIRS end. Actually, by law, the evidence is supposed to be sent to the taxpayer by the institution that did and remitted the tax.

emmasoft:
Though I have not done tracking of WHT remittance before now, I believe it can be done from the FIRS end. Actually, by law, the evidence is supposed to be sent to the taxpayer by the institution that did and remitted the tax.

Thanks. Maybe I will start demanding for the evidence now.

Emmanuel72:
You can invest on the money market at bluenest .... it's currently 16.5% annually though.

Is the management fee different from WHT tax because I don't understand Stanbic ibtc

Nakedman:
Has anyone tried to buy Treasury bill from Blunest App? I have been to Stanbic bank office, they said Tbill is not available on their system since yesterday.

Secondary market is available

Nakedman:
Is the management fee different from WHT tax because I don't understand Stanbic ibtc

....

emmasoft:
The time to get credited will depend on some factors like available buyers, tenor, the investment house or bank etc. Though I don't know the firm or bank you are using, it's possible you get credited within 24 hours or more, depending on some of the factors stated earlier.

If you have yet to be credited, you can reach out to the customer care tomorrow to get an update.

Again, here is one of the advantages of MMF over Tbills. Easy entry and exit. If you're not sure of holding your TBills to maturity, It's always better to opt for MMF, which gives you the liberty to do anything with your capital without penalty after 30 days.

. Thank you sir

Clear your doubt about a fund manager

No more doubt about whether an operator is authentic or not.
It's not a matter of popularity, it's a matter of being authentic.

See the attached.

Apart from Stocks and possibly Commercial Paper what other investment within this circle can one do since TB's rate is on a downward spiral?
Thank you sir

emmasoft:
Not really, because even when Tbills was 3% some years back, investors subscribed. Most of the time, when dealing with huge funds, rate takes a back seat, and the most important consideration becomes the safety of the funds.

francisobiabo:
Apart from Stocks and possibly Commercial Paper what other investment within this circle can one do since TB's rate is on a downward spiral?
Thank you sir

You can do MMF with Norrenberger, First Ally... account opening link is in my signature, or reach out to me with the contact also in my signature.

emmasoft:
You can do MMF with Norrenberger, First Ally... account opening link is in my signature, or reach out to me with the contact also in my signature.

Please I would like to know more about investing with Norrenberger.

Thazard:
Please I would like to know more about investing with Norrenberger.

I already sent you a chat, check your WhatsApp.

francisobiabo:
Does the 10% tax deductions on TBills interest that would take effect next year affect the already running TBills transactions bought this year?
Thank you

Yes it will affect. The 10%WHT isn't taking effect next year. It has always been just that some banks decided not to deduct until the new circular was released again

Nakedman:
Is the management fee different from WHT tax because I don't understand Stanbic ibtc

Management fee Is different from WHT except of course the bank is adding WHT and fee together.

freeman67:
Very true. Infact I have me paying it on CPs since 2023. I have also been paying on areas that had no holidays like bank interests and co.

My only challenge is that I have been deducted up 500k this year but I don't have any means of verifying if it's being remited. Even though they ask for my TIN always and I provide it.

The only area I have proof is my Stanbic IBTC account that will always send me WHT received anytime I have little money in my account and they pay interest. After deducting WHT on the interest, they later send me a receipt within the month for that deduction. However, they use my NIN instead not my TIN.

Any idea on how to track if the TIN is actually going to the appropriate authority in my name?

Reach out to them that you need evidence that WHT was paid on your behalf

fannybaby:
Good afternoon, please who knows how many days it will take before I get credited??

I terminated my primary market treasury bills before maturity and the customer care lady told me 24 hours

It's past 24 hours and I have not gotten the money

Send a reminder, but remember it's buying and sell.
Once they sell your tbills, you bank account will be credited

Today's rate?

Please note that withholding tax on interest or investment is final and can not be used to offset any tax liability

Odunharry:
Reach out to them that you need evidence that WHT was paid on your behalf