Please is the interest rate for TB usually 18.33% for all banks?

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)

@feelamong, @jesusbabygirl No, they have not invested the funds yet. That's how First bank operates. The moment you place a bid with them, they debit you that exact amount just to keep intact for the coming auction. If your bid is successful, then all good. But if not successful, then they will credit you back. Thats their own system.

manlikegb:



@feelamong, @jesusbabygirl No, they have not invested the funds yet. That's how First bank operates. The moment you place a bid with them, they debit you that exact amount just to keep intact for the coming auction. If your bid is successful, then all good. But if not successful, then they will credit you back. Thats their own system.

This information is correct. It also applies on bonds

manlikegb:



@feelamong, @jesusbabygirl No, they have not invested the funds yet. That's how First bank operates. The moment you place a bid with them, they debit you that exact amount just to keep intact for the coming auction. If your bid is successful, then all good. But if not successful, then they will credit you back. Thats their own system.

Very true, I asked and that is what they told me. Thank you guys..

Hello fam, when is the next primary auction please? Seem to have lost track of the dates.

40manlappy:
Hello fam, when is the next primary auction please? Seem to have lost track of the dates.

The next NTBs auction will take on 30th Nov.
I place a bid of 18.5% on a 364days tenor via Fidelity Bank but its like i will raise it to 19%.

PETERiCHY:


The next NTBs auction will take on 30th Nov.
I place a bid of 18.5% on a 364days tenor via Fidelity Bank but its like i will raise it to 19%.

Thanks for the info.

PETERiCHY:


The next NTBs auction will take on 30th Nov.
I place a bid of 18.5% on a 364days tenor via Fidelity Bank but its like i will raise it to 19%.

Please when is the next auction after that of Nov 30tg likely to be?

I plan to invest but can't meet the Nov 30th auction?

AderibigbeAAA:


Please when is the next auction after that of Nov 30tg likely to be?

I plan to invest but can't meet the Nov 30th auction?

NTBs primary auction takes place consecutively every 2wks.

NTB 1st quarter 2017 auction calendarMy Projection)
14th Dec
21st Dec
4th Jan
18th Jan
1st Feb
15th Feb
1st Mar.
There are always 7 auction days in every TBills quarter. This next auction is the last one for the Q4 2016 calendar
N.B The above dates are auction dates, settlement dates for each auction Wednesday is the following Thursday.

From Atedo Peterside: I attended an economic outlook session with top economists and top CEOs today and thought to share some of the perspectives. The session looked at Nigeria's economic direction for 2017. The summary: 2017 will be tougher than 2016. The economy will not recover until 2018, even 2019. Inflation will continue to be high (hovering around 20%)and Naira to dollar will remain in the 450s. With money scarce many more businesses will fold up, leading to job losses and more poverty. With inflation and high exchange rate the banks will not be able to give loans and when they do the interest rate will be too high to afford. With high inflation those with paid salaries are now actually earning less, that is if they will be lucky to keep their jobs... The presentation shows that all sectors of the economy (not just oil) are either falling or already in recession (below zero). Signs are all over: British Airways just converted it's Nigerian office into an agency; almost all foreign airlines now fuel in Ghana; many people now smuggle crops and raw materials out to earn dollasrs; 75% of vacant houses in Ikoyi and VI don't have buyers; Shoprite that opened in Ajah in August is still 70% empty as dollars to bring in goods is scarce and customer count is poor; 5 other big supermarkets in Lagos have closed shop etc.
The experts' advice:
1. Cash is going to be King and whoever has it or has access to it should preserve it.
2. Spend less than you earn; SAVE for the rainy day.
3. Cut down on avoidable merriment.
4. Expect the worst Christmas in 20 years.
4. Look for dollar or pounds-earning businesses if you can.
This is a privileged info, I hope it's useful to you.



With the above economic outlook I have decide to peg my discount rate for 364days @20% even if it didn't fly tommorrow it will definitely fly in the nearest future.

I'm not in a haste to cage my fund.

*ThE OcToPuS*

PETERiCHY:
From Atedo Peterside: I attended an economic outlook session with top economists and top CEOs today and thought to share some of the perspectives. The session looked at Nigeria's economic direction for 2017. The summary: 2017 will be tougher than 2016. The economy will not recover until 2018, even 2019. Inflation will continue to be high (hovering around 20%)and Naira to dollar will remain in the 450s. With money scarce many more businesses will fold up, leading to job losses and more poverty. With inflation and high exchange rate the banks will not be able to give loans and when they do the interest rate will be too high to afford. With high inflation those with paid salaries are now actually earning less, that is if they will be lucky to keep their jobs... The presentation shows that all sectors of the economy (not just oil) are either falling or already in recession (below zero). Signs are all over: British Airways just converted it's Nigerian office into an agency; almost all foreign airlines now fuel in Ghana; many people now smuggle crops and raw materials out to earn dollasrs; 75% of vacant houses in Ikoyi and VI don't have buyers; Shoprite that opened in Ajah in August is still 70% empty as dollars to bring in goods is scarce and customer count is poor; 5 other big supermarkets in Lagos have closed shop etc.
The experts' advice:
1. Cash is going to be King and whoever has it or has access to it should preserve it.
2. Spend less than you earn; SAVE for the rainy day.
3. Cut down on avoidable merriment.
4. Expect the worst Christmas in 20 years.
4. Look for dollar or pounds-earning businesses if you can.
This is a privileged info, I hope it's useful to you.
With the above economic outlook I have decide to peg my discount rate for 364days @20% even if it didn't fly tommorrow it will definitely fly in the nearest future.
I'm not in a haste to cage my fund.
*ThE OcToPuS*

insightful advice bros....thank you

PETERiCHY:
From Atedo Peterside: I attended an economic outlook session with top economists and top CEOs today and thought to share some of the perspectives. The session looked at Nigeria's economic direction for 2017. The summary: 2017 will be tougher than 2016. The economy will not recover until 2018, even 2019. Inflation will continue to be high (hovering around 20%)and Naira to dollar will remain in the 450s. With money scarce many more businesses will fold up, leading to job losses and more poverty. With inflation and high exchange rate the banks will not be able to give loans and when they do the interest rate will be too high to afford. With high inflation those with paid salaries are now actually earning less, that is if they will be lucky to keep their jobs... The presentation shows that all sectors of the economy (not just oil) are either falling or already in recession (below zero). Signs are all over: British Airways just converted it's Nigerian office into an agency; almost all foreign airlines now fuel in Ghana; many people now smuggle crops and raw materials out to earn dollasrs; 75% of vacant houses in Ikoyi and VI don't have buyers; Shoprite that opened in Ajah in August is still 70% empty as dollars to bring in goods is scarce and customer count is poor; 5 other big supermarkets in Lagos have closed shop etc.
The experts' advice:
1. Cash is going to be King and whoever has it or has access to it should preserve it.
2. Spend less than you earn; SAVE for the rainy day.
3. Cut down on avoidable merriment.
4. Expect the worst Christmas in 20 years.
4. Look for dollar or pounds-earning businesses if you can.
This is a privileged info, I hope it's useful to you.



With the above economic outlook I have decide to peg my discount rate for 364days @20% even if it didn't fly tommorrow it will definitely fly in the nearest future.

I'm not in a haste to cage my fund.

*ThE OcToPuS*

@feelamong @PETERiCHY I would love to participate in the next auction in 2days time and need to place my bid latest tomorrow morning. Pls what rate would you advice for a 182days tenure. Thanks in anticipation.

manlikegb:





@feelamong @PETERiCHY I would love to participate in the next auction in 2days time and need to place my bid latest tomorrow morning. Pls what rate would you advice for a 182days tenure. Thanks in anticipation.

17.9% won't be a bad idea but if you are in a haste then key-in 17.4% to be on the safe side.

PETERiCHY:
From Atedo Peterside: I attended an economic outlook session with top economists and top CEOs today and thought to share some of the perspectives. The session looked at Nigeria's economic direction for 2017. The summary: 2017 will be tougher than 2016. The economy will not recover until 2018, even 2019. Inflation will continue to be high (hovering around 20%)and Naira to dollar will remain in the 450s. With money scarce many more businesses will fold up, leading to job losses and more poverty. With inflation and high exchange rate the banks will not be able to give loans and when they do the interest rate will be too high to afford. With high inflation those with paid salaries are now actually earning less, that is if they will be lucky to keep their jobs... The presentation shows that all sectors of the economy (not just oil) are either falling or already in recession (below zero). Signs are all over: British Airways just converted it's Nigerian office into an agency; almost all foreign airlines now fuel in Ghana; many people now smuggle crops and raw materials out to earn dollasrs; 75% of vacant houses in Ikoyi and VI don't have buyers; Shoprite that opened in Ajah in August is still 70% empty as dollars to bring in goods is scarce and customer count is poor; 5 other big supermarkets in Lagos have closed shop etc.
The experts' advice:
1. Cash is going to be King and whoever has it or has access to it should preserve it.
2. Spend less than you earn; SAVE for the rainy day.
3. Cut down on avoidable merriment.
4. Expect the worst Christmas in 20 years.
4. Look for dollar or pounds-earning businesses if you can.
This is a privileged info, I hope it's useful to you.

Wow! pretty bleak.

Epphy:
Hello House,

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

Thanks.

At this time, u are still asking about MMM, time is of the essence oo. Do the needful

My TBill was rolled over at the beginning of November against my wish. I went back to request that the bid be terminated and my principal be refunded but the attendant told me that a certain amount will be deducted from my principal. Is that the usual procedure?

Good morning.

Donvitalis:
My TBill was rolled over at the beginning of November against my wish. I went back to request that the bid be terminated and my principal be refunded but the attendant told me that a certain amount will be deducted from my principal. Is that the usual procedure?

Good morning.

Lodge an official complaint with the bank since the rollover was against your instruction. Document it and copy CBN

plendil:


Wow! pretty bleak.

Please i just filled my form at gtb now but there is no space to fill in the rate i wanted for my 91 days tenor. Is that how gtb normally does?

awesomeJ:
NTB 1st quarter 2017 auction calendarMy Projection)
14th Dec
21st Dec
4th Jan
18th Jan
1st Feb
15th Feb
1st Mar.
There are always 7 auction days in every TBills quarter. This next auction is the last one for the Q4 2016 calendar
N.B The above dates are auction dates, settlement dates for each auction Wednesday is the following Thursday.

it cannot be 14th and 21st dec. there is usually 2 weeks gap. you may wish to revise

I filled the NTB form with zenith on Monday, I got debited that amount without an alert today which I noticed when I checked my acct online this evening, even the statement did not show it. I'm planning on going there tomorrow to enquire or is it how's done because this is my first time of buying NTB? Thanks house

X21:


it cannot be 14th and 21st dec. there is usually 2 weeks gap. you may wish to revise

Well, I think it will be 14th and 21st. The first 2 auctions in every TBills quarter are always held on successive Wednesdays. You may want to check the calendar for previous quarters.

The forum is unusually quiet!

sirculynz:
I filled the NTB form with zenith on Monday, I got debited that amount without an alert today which I noticed when I checked my acct online this evening, even the statement did not show it. I'm planning on going there tomorrow to enquire or is it how's done because this is my first time of buying NTB? Thanks house

The moment the bid is successful, it will show in your statement and you will receive sms.

ozymes:
The forum is unusually quiet!

November data for some people.

Some left Tbills for MMM

Some have used all their money for Tbills eaten the interest and praying the Tbills matures fast to either finish the principal or get another interest

Good day house..can someone put up today's rate. Thanks.

ETHIX:



November data for some people.

Some left Tbills for MMM

Some have used all their money for Tbills eaten the interest and praying the Tbills matures fast to either finish the principal or get another interest

What's your strategy sir?

Agbaletu:

The moment the bid is successful, it will show in your statement and you will receive sms.

Thanks

Pleasehelp with today's rate anyone thanks

I have said it before that this forum is wayyyyy too quiet! Please what are the stop rates for today?

ozymes:
I have said it before that this forum is wayyyyy too quiet! Please what are the stop rates for today?

Auction na today abi na tomorrow? When I placed my bid I wrote auction of 01/12/2016.

I agree with you on this one..MMM and cryptocurrency has taken over, little wonder no one knows the outcome of the auction yesterday

ETHIX:



November data for some people.

Some left Tbills for MMM

Some have used all their money for Tbills eaten the interest and praying the Tbills matures fast to either finish the principal or get another interest