₦airaland Forum

specbuzy:
Good day all.

I subscribed to the 364 day Treasury Bill last year and my money was released today but a 10% WHT was applied to it. Should this be so considering that the money was invested last year.

P.S: This was my first time using first bank. I normally use Zenith and they don't remove WHT

Odunharry:
All banks/investment firm now charge WHT. Those that didn't deduct last year started removing the 10% WHT even if they have paid interest upfront..

As long it's not more than 10% of the interest, don't over stress.

Adegokenath:
please how to calculate the 10% wh tax

Odunharry:
All banks/investment firm now charge WHT. Those that didn't deduct last year started removing the 10% WHT even if they have paid interest upfront..

As long it's not more than 10% of the interest, don't over stress.

specbuzy:
Thank you for this clarification.

This is just unexpected cost now. Is this also applicable to mutual funds via all these investment apps

Adegokenath:
please how to calculate the 10% wh tax

Samcathe:
What's the best way to invest in the T-bill primary market? Wema Bank told me they have issues with their app, even though they assured me some weeks back that I could place my bid on it.

Samcathe:
What's the best way to invest in the T-bill primary market? Wema Bank told me they have issues with their app, even though they assured me some weeks back that I could place my bid on it.

Odunharry:
Please for primary market, always send your bid a week or atleast two working days to the auction and send a reminder on the day of the auction.

I doubt you can bid primary market on the app

vazsily:
I had similar challenge with Stanbicibtc after using the online platform to subscribe. Thankfully, I always followed up a day to auction for any stories so that I can address it promptly.

Samcathe:
Then it's either those guys don't know what they are doing or they are hiding something. Despite my persistence, they claimed I can only bid through their app.

freeman67:
While trying alternative investments aside what exists here, I did a corporate Sukuk (Taj Sukuk 2) last year. Right now it's about looking like the worst investment I have tried. I have done CP's, PN's and other alternative investments but this Taj Sukuk seems to be the the worst. I complain about FGN Sukuk and bonds proceeds for sometimes taking up to 5 days before being credited but this one is worse.

Thanks for this guidelines.

I will adhere to it for peace of mind.
First of all, it was advertised from June to July 2025. We made payment by July ending and after that, we expected to get the allocation (Proof and terms of investment) immediately to no avail until after like 2 months and a week or so in October. The bi-annual rent payment (coupon payment) was to start in January 2026. However, we got a mail informing us that they have graciously decided to pay us quarterly payment this January 2026 which means they want the investment to start counting from the October when the allocation notice was sent.

Also, we were informed about 2 weeks and 2 days ago that the funds for the payment of rent was ready and that they are waiting for approval from SEC before disbursement. Up till now, nothing.

1. My first question that I would love to ask them is ' who bears the loss of rent on the first lose to 3 months the money spent with them? All the FGN SUKUK, Bonds, Savings bonds, CP's and PN's that I have done before starts counting from the closing date as stated in the advert. In this case, it is 28th July.

2. Payment dates are supposed to be fixed and payment is expected to be made to investors on the fixed days for as long as the the investment last. Which is minimum of 5 years in this case. Going by their 3 months, it starts counting from October 3rd meaning January 3rd was supposed to be their payment date. Yet we were only informed on the 9th of January that the funds is ready but needs SEC approval. It's supposed to be bi-annual payment or even quarterly if we go by their mail. Is this how we will continue to use almost 1 month to wait for SEC approval anytime payment is due or it's just a one off thing.

I am posting this here to hear from other investors investors if there is any and to other potential investors of what it entails incase the ever come across and develop interest.

freeman67:
While trying alternative investments aside what exists here, I did a corporate Sukuk (Taj Sukuk 2) last year. Right now it's about looking like the worst investment I have tried. I have done CP's, PN's and other alternative investments but this Taj Sukuk seems to be the the worst. I complain about FGN Sukuk and bonds proceeds for sometimes taking up to 5 days before being credited but this one is worse.

First of all, it was advertised from June to July 2025. We made payment by July ending and after that, we expected to get the allocation (Proof and terms of investment) immediately to no avail until after like 2 months and a week or so in October. The bi-annual rent payment (coupon payment) was to start in January 2026. However, we got a mail informing us that they have graciously decided to pay us quarterly payment this January 2026 which means they want the investment to start counting from the October when the allocation notice was sent.

Also, we were informed about 2 weeks and 2 days ago that the funds for the payment of rent was ready and that they are waiting for approval from SEC before disbursement. Up till now, nothing.

1. My first question that I would love to ask them is ' who bears the loss of rent on the first lose to 3 months the money spent with them? All the FGN SUKUK, Bonds, Savings bonds, CP's and PN's that I have done before starts counting from the closing date as stated in the advert. In this case, it is 28th July.

2. Payment dates are supposed to be fixed and payment is expected to be made to investors on the fixed days for as long as the the investment last. Which is minimum of 5 years in this case. Going by their 3 months, it starts counting from October 3rd meaning January 3rd was supposed to be their payment date. Yet we were only informed on the 9th of January that the funds is ready but needs SEC approval. It's supposed to be bi-annual payment or even quarterly if we go by their mail. Is this how we will continue to use almost 1 month to wait for SEC approval anytime payment is due or it's just a one off thing.

I am posting this here to hear from other investors investors if there is any and to other potential investors of what it entails incase the ever come across and develop interest.

freeman67:
While trying alternative investments aside what exists here, I did a corporate Sukuk (Taj Sukuk 2) last year. Right now it's about looking like the worst investment I have tried. I have done CP's, PN's and other alternative investments but this Taj Sukuk seems to be the the worst. I complain about FGN Sukuk and bonds proceeds for sometimes taking up to 5 days before being credited but this one is worse.

First of all, it was advertised from June to July 2025. We made payment by July ending and after that, we expected to get the allocation (Proof and terms of investment) immediately to no avail until after like 2 months and a week or so in October. The bi-annual rent payment (coupon payment) was to start in January 2026. However, we got a mail informing us that they have graciously decided to pay us quarterly payment this January 2026 which means they want the investment to start counting from the October when the allocation notice was sent.

Also, we were informed about 2 weeks and 2 days ago that the funds for the payment of rent was ready and that they are waiting for approval from SEC before disbursement. Up till now, nothing.

1. My first question that I would love to ask them is ' who bears the loss of rent on the first lose to 3 months the money spent with them? All the FGN SUKUK, Bonds, Savings bonds, CP's and PN's that I have done before starts counting from the closing date as stated in the advert. In this case, it is 28th July.

2. Payment dates are supposed to be fixed and payment is expected to be made to investors on the fixed days for as long as the the investment last. Which is minimum of 5 years in this case. Going by their 3 months, it starts counting from October 3rd meaning January 3rd was supposed to be their payment date. Yet we were only informed on the 9th of January that the funds is ready but needs SEC approval. It's supposed to be bi-annual payment or even quarterly if we go by their mail. Is this how we will continue to use almost 1 month to wait for SEC approval anytime payment is due or it's just a one off thing.

I am posting this here to hear from other investors investors if there is any and to other potential investors of what it entails incase the ever come across and develop interest.

Creditalerts:
may God no let investment carry us waka loss in Jesus name 🙏🏿🙏🏿🙏🏿

Nakedman:
Is there anyone here who subscribed for FGN savings bonds for January with stanbic ibtc??

Chudymario:
Yes I did

Nakedman:
Was it successful? I subscribed and was told it wasn’t successful and yet to be refunded.

Chudymario:
Mine was successful. Hope you filled out the subscription form correctly?

stephen13:
Hello house. I wanted asking. Buying secondary TB from a bank who has not met the minimum CBN new rule of Recapitalization as at this moment. Is the person funds secure or not ?.
For secondary market is it the bank that is custodian or Federal government ?
I would appreciate your response on this

obitrac:
Please house if I do treasury bills from my bank and the bank get closed by cbn before the end of my TB tenure because they did not meet capitalization requirements is my money safe?

GMs:
Good afternoon all, I need an advise please, is it possible to invest in treasury bills for two months. How can one go about this. Also, what other investment is close to the rate I’d get from treasury bills. I checked FD and it’s %9 with first bank. Thank you