the TB I apply for end on 17th of this month last week Thursday.
am yet to get my money back in my account.
what could be the problem..
any one experience this.
I have reach out to the CC the said I should get the money on 17th....still am waiting to see alart.
what can I do house

kompanie:
Please, how do I sell my NTB before maturity in the secondary market? help @feelamong

Based on my experience, all you need to do is to write your bank who will do the needful. You may have to wait a few days while they source for a buyer.

Talk to your bank as Oga feelamong suggested.

Which bank is that?

hardniola:
the TB I apply for end on 17th of this month last week Thursday.
am yet to get my money back in my account.
what could be the problem..
any one experience this.
I have reach out to the CC the said I should get the money on 17th....still am waiting to see alart.
what can I do house

Ihavespoken:
Which bank is that?

union bank brother. what could be the problem. I need money real bad. is the money still with cbn or what

Is there any MPC meeting before the next Tbills auction?

And what advisable rates can one bid for the next auction 364days tenor?

Cc: @Feelamong @Unite4 and other gurus

Houstency:
Is there any MPC meeting before the next Tbills auction?

And what advisable rates can one bid for the next auction 364days tenor?

Cc: @Feelamong @Unite4 and other gurus

The last MPC meeting for the year is holding today n tomorrow.

As for rates lets c d outcome of the meeting tomorrow

It could be that they entered you for a longer investment duration or that UBA's failed to credit you.
Its best you visit your branch and know the exact situation.

hardniola:
union bank brother.
what could be the problem.
I need money real bad.
is the money still with cbn or what

@tunene66 Thanks for your response

Ihavespoken:
It could be that they entered you for a longer investment duration or that UBA's failed to credit you.
Its best you visit your branch and know the exact situation.

my brother is 182 days.
and the CC even told me that I would see my money on 17th.
I don't understand them.i was at bank today all i hear is that my money as not been drop.

hardniola:
my brother is 182 days.
and the CC even told me that I would see my money on 17th.
I don't understand them.i was at the bank today all I hear is that my money as not been drop.

Check your investment confirmation notice. It should have been emailed to you. The maturity date would be stated therein.

Hello House,

I am sorry I want to deviate a bit. What are our views about MMM?

Thanks.

@ It depends on the level of risk you are ready to take with your hard earned money.

@ Epphy, it depends on your level of apertite for toxic risk

so I was at the bank again. they said maybe I apply for loan somewhere I said no. then next they said they are investigating....I wait for some time. then in the next 1hour I receive msg......pampam upfront interest NTB.......34,777. for what I don't want... I have not apply for roll over or auto renewal. this pipe are some else.is TB not next week.

this pipo are something else. why would 600k give just 34k for good six month.
hmmmmm even if I risk 200k for one month on mmm. which I would not do. is that not going to give 260k for one month.... well I just need my money back immediately.

hardniola:
so I was at the bank again.
they said maybe I apply for loan somewhere I said no.
then next they said they are investigating....I wait for some time.
then in the next 1hour I receive msg......pampam
upfront interest NTB.......34,777.
for what I don't want...
I have not apply for roll over or auto renewal.
this pipe are some else.is TB not next week.

Guy, somethings are not clear to me here. For a bank to tell you that "maybe you applied for loan", smells fishy to me. there cannot be any word like maybe. I fault the bank here. its either you applied for and got debited or you did not. 34K interest for TB of 600K principal looks like a secondary market rip off to me. To make matter more confusing, you said you did not apply for it. Whats happening.

I guess your first bet is to request for your bank statement, meet your account officer and sort it out. I am interested to know the outcome so that others can learn from this case study.

unite4real:


Guy, somethings are not clear to me here. For a bank to tell you that "maybe you applied for loan", smells fishy to me. there cannot be any word like maybe. I fault the bank here. its either you applied for and got debited or you did not. 34K interest for TB of 600K principal looks like a secondary market rip off to me. To make matter more confusing, you said you did not apply for it. Whats happening.

I guess your first bet is to request for your bank statement, meet your account officer and sort it out. I am interested to know the outcome so that others can learn from this case study.

my brother this is serious oh....the last TB I apply for end on 17th....why then did I not see my money that day or on Friday which is 18th....
they are just confuse about maybe I apply for loan.
then if so how come they give me upfront interest again....I knew this would likely happen..I already check in the bank last week Monday to ask wen the tb would end she confirm on Thursday which is 17th...why now would they start sending upfront interest,I don't want roll over...I have not take any loan from anywhere.
though I have write to customer service I was told they are investigating.
hopefully I get money this week.
this pipo are trading with someone money.....
too bad 34k. for 182
on 600k

It is likely someone at your bank branch played a fast one with your funds. The banks are fond of gambling with customer's funds.

They most likely had a secondary market seller and used your funds to secure the offer thereby indirectly informing you that your funds were sold at 11.8%.

I detest such and I advice you give them red eye. Don't allow them make decisions for you. The loan part is just a side distraction, if you don't owe the bank then stand up for your right.

hardniola:
my brother this is serious oh....the last TB I apply for end on 17th....why then did I not see my money that day or on Friday which is 18th....
they are just confuse about maybe I apply for loan.
then if so how come they give me upfront interest again....I knew this would likely happen..I already check in the bank last week Monday to ask wen the tb would end she confirm on Thursday which is 17th...why now would they start sending upfront interest,I don't want roll over...I have not take any loan from anywhere.
though I have write to customer service I was told they are investigating.
hopefully I get money this week.
this pipo are trading with someone money.....
too bad 34k. for 182
on 600k

Gurus in the house.. please what's the effect of the CBN's MPC meeting on Treasury bills?
And what possible rates can one bid for 364 days? Thanks

@Unite4real @Feelamong, @Other gurus
Please, for an individual that wants to liquidate his NTB before maturity, what steps can one take to sell on the Secondary Market.

Houstency:
Gurus in the house.. please what's the effect of the CBN's MPC meeting on Treasury bills?
And what possible rates can one bid for 364 days? Thanks

@Unite4real @Feelamong, @Other gurus
Please, for an individual that wants to liquidate his NTB before maturity, what steps can one take to sell on the Secondary Market.

As far as Tbills are concerned, happy days are still around. MPR remained unchanged. You can still be looking at above 18% for 364 day tenor.

To liquidate ur investment, you need to approach your dealing bank/investment house. Remember to count your loss properly.

hi guys
i was happy with the result of the mpc meeting held yesterday, i cant wait to reinvest my capital before the rates drop. how often does the mpc hold these meetings....i heard this last meeting was the last for the year.

zamirikpo:
hi guys
i was happy with the result of the mpc meeting held yesterday, i cant wait to reinvest my capital before the rates drop. how often does the mpc hold these meetings....i heard this last meeting was the last for the year.

Six times annually, Jan mar may jul sep n nov

unite4real:


To liquidate ur investment, you need to approach your dealing bank/investment house. Remember to count your loss properly.

Thanks very much for your prompt response. For the loss, that's where I have issue. What my bank gave me is way less than the original profit I was given for the investment in the first instance, making me lose more money. And I've held the investment for close to six months, the amount I got from my own calculation is way different, what do you suggest I do in this case Sir?

@hardniola, this case of yours with union bank is such a funny one.
One reason they may give for reinvesting your funds is that you instructed them to roll over the investment when you initially gave your instructions in May. But given that the investment matured on 17th, there should be no way they could have reinvested at the last bidding date of 16th.
I think you should stay on their neck, ask them to show you your original instructions regarding the investment, and then request that whatever they did to come up with this current interest be reversed, so you may get your funds. Tell them you'll make a report to the CPC and the CBN, if they don't resolve the issue soon enough.

Please house, I need to make a clarification. I submitted my form for this coming Wednesday bid and Firstbank debited the amount immediately. Is that how it ought to be?. I thought it is after CBN releases the rate on Wednesday that it should happen.

Jesusbabygirl:
Please house, I need to make a clarification. I submitted my form for this coming Wednesday bid and Firstbank debited the amount immediately. Is that how it ought to be?. I thought it is after CBN releases the rate on Wednesday that it should happen.

They must have sold to you from the secondary market....

if the rates are good enough..its sort of better than leaving ur funds idle till next thursday...

feelamong:


They must have sold to you from the secondary market....

if the rates are good enough..its sort of better than leaving ur funds idle till next thursday...

Wait, I doubt I understand. Does it mean they will do the primary bid for me come Wednesday?

Jesusbabygirl:
Wait, I doubt I understand. Does it mean they will do the primary bid for me come Wednesday?

Since your account has been debited...it means your funds have been invested in the Treasury Bills for you.

Ask them for your Investment Letter to see the details (Rate, tenor, etc)

after all I got my money back.....


so the next excuse was that I have stand as ganrantor for one person,I said have not stand nor do I apply for any loan.
so I was at the bank on Thursday....immediately the lady from CC saw me....she said pls...we are working on ur issue u would get ur money today (Thursday ).
so around ...... I receive alart 0f of 566...
then msg as.

PRETERM 600K NTB 18%
16/3/2017MAT.....
funny haaaa.
they give me NTB from secondary market
and return my money from primary market rate.
this most have been inside job.....maybe someone lock my money....on one investment.
thank God I got my money back.

feelamong:


Since your account has been debited...it means your funds have been invested in the Treasury Bills for you.

Ask them for your Investment Letter to see the details (Rate, tenor, etc)

With inflation rate at 18.33, please what rate can we bid for 364days tenor?

Jesusbabygirl:
Please house, I need to make a clarification. I submitted my form for this coming Wednesday bid and Firstbank debited the amount immediately. Is that how it ought to be?. I thought it is after CBN releases the rate on Wednesday that it should happen.

Thats how first bank does. They debit ahead of auction and if your bid fails they return your money.