₦airaland Forum

I tried reinvesting my upfront interest at stanbic, but I was told I cant do it on the same application but will have to be wait till the next auction which will be in 2 weeks time or better still go to the secondary market.
Is this supposed to be so?

Uzee24:
I tried reinvesting my upfront interest at stanbic, but I was told I cant do it on the same application but will have to be wait till the next auction which will be in 2 weeks time or better still go to the secondary market.
Is this supposed to be so?

Yes. One investment One application.

One Investment, one custodian fee.

If you are to invest again, 0.125% custodian fee applies.

Uzee24:
so does it mean that after the initial investment, subsequent investments wont get the charge on the capital but on interest?

Uzee24:
I tried reinvesting my upfront interest at stanbic, but I was told I cant do it on the same application but will have to be wait till the next auction which will be in 2 weeks time or better still go to the secondary market.
Is this supposed to be so?

Sorry, a quick question: did you put in at least 50m for the primary market? GT and Access were insisting I needed to have 50m; otherwise, I have to settle for secondary market. I was thinking they would gather investments to make up that amount and bid on behalf of clients.

Pls anyone wt an idea of the current Tbills secondary market rate for GTB or FBN? The acct officers in d 2 gtbs I got to today were uttering gibberish, FBN no network as usual.

U1:
Sorry, a quick question: did you put in at least 50m for the primary market? GT and Access were insisting I needed to have 50m; otherwise, I have to settle for secondary market. I was thinking they would gather investments to make up that amount and bid on behalf of clients.

Well, i think thats the case at Stanbic, you are allowed to invest in the primary market but the bank's rate is what you go with. Though I was told at another branch of theirs that one can quote his own rate, but I doubt if thats true.
BTW, my investment is far less than 50M.

Adiahabasi:
Pls anyone wt an idea of the current Tbills secondary market rate for GTB or FBN? The acct officers in d 2 gtbs I got to today were uttering gibberish, FBN no network as usual.

As of yesterday, a GTB account officer quoted:

91 days - 13%
182 days - 16.5%
364 days - 17.85%

These were supposed to be for secondary market, but the quotes do like ones for primary market.

My comment was removed by the mod. So guys go to my profile and you will know what to do.

For those that pmed me. I have replied your mails.

#apicalrocks

Nice thread here I must say, I have been reading, I never knew TB was like this. Great insight provided.. These are my questions

1) Has anybody here used Ecobank to buy TB, is their rate good like other banks.. I intend to do 91 days Term

2) if I am to use Stanbic because of their good rate, I guess I Will need to open an account with them and move my money there.. Pls am I right on this?

3) what was the last secondary market bid rate of Stanbic for a 91 days term

Ecobank has been flexing with my money and paying me small monthly interest. I wish I have known better.

U1:
As of yesterday, a GTB account officer quoted:

91 days - 13%
182 days - 16.5%
364 days - 17.85%

These were supposed to be for secondary market, but the quotes do like ones for primary market.

please, how can I get my treasury bill certificate from GTBANK, I went to the bank they said they don't give any certificate...
I only got 3 debit alerts...
please help

amjustme2:
I know you can subscribed from different banks if you want, just the way you are permitted to own accounts with same name in different banks.

I am not sure of GTbank and Access, because I have not used them - Accepting 100k. But certainly would take less than 1m. Others will reply with more accurate information esp those who subscribe through those banks. I am 100% sure of FBN for 100k.

GTbank's rate is not bad, but from posts in this thread, I rank them 3rd, behind IBTC and FBN.

Access' rate is in same region with GTB.

Others with more experience with different banks could share more insight.

Don't misunderstand me on the rates. You don't need to open a new bank account with banks offering higher rates. The difference in rates is not that high. But if you have existing accounts with those banks, moving funds will not be a bad idea.

Please, Does GTBANK issue Treasure bill Certificate after a successful subscription or Bid. .?
I went to the Bank,and my accounting officer said that they don't issue any certificate. ...
I only got there three debit alerts..
What evidence do can i stand on that I did treasury bills..?

1.) Run from Ecobank.

Am not sure if that bank is good for anything right now. For your information they are in the process of shutting down 74 branches Nationwide. I guess that should explain a lot.

2.) Yes You can use IBTC or FBN. They are on fire right now. GTbank is not bad sha, You need to open account new account, unless you have existing.

3.) I can get FBN secondary Market rate for you tomorrow morning. The last 2 days has been tough for them: Poor network.

Others can help you with IBTC rate.


4.) Remember point 1.

gogedda:
Nice thread here I must say, I have been reading, I never knew TB was like this. Great insight provided.. These are my questions

1) Has anybody here used Ecobank to buy TB, is their rate good like other banks.. I intend to do 91 days Term

2) if I am to use Stanbic because of their good rate, I guess I Will need to open an account with them and move my money there.. Pls am I right on this?

3) what was the last secondary market bid rate of Stanbic for a 91 days term

Ecobank has been flexing with my money and paying me small monthly interest. I wish I have known better.

Some banks don't issue. I don't know if any still does.

FBN too does not issue.

The evidence is that debit alert. NTB is included as description. Your interest is also another evidence.

No need to worry.

Gavrelino123:
Please, Does GTBANK issue Treasure bill Certificate after a successful subscription or Bid. .?
I went to the Bank,and my accounting officer said that they don't issue any certificate. ...
I only got there three debit alerts..
What evidence do can i stand on that I did treasury bills..?

amjustme2:
Some banks don't issue. I don't know if any still does.

FBN too does not issue.

The evidence is that debit alert. NTB is included as description. Your interest is also another evidence.

No need to worry.

FBN issues on request.

That's interesting.

Thanks for the corrections.

Damolux01:
FBN issues on request.

Gavrelino123:
please, how can I get my treasury bill certificate from GTBANK, I went to the bank they said they don't give any certificate...
I only got 3 debit alerts...
please help

Wrong person to ask. Never invested in T-bills.

Good morning House,
Does any one know the stop rates at yesterday's primary market auction? Feelamong kindly share pls.
Many thanks.

http://af.reuters.com/article/nigeriaNews/idAFL8N1JB2YL

Nigeria plans 133 bln naira treasury bill sale next week


LAGOS, June 14 (Reuters) - Nigeria plans to sell 133.24 billion naira ($424 mln) worth of treasury bills at an auction next week, the central bank said on Wednesday.

The bank said it plans to offer 28.12 billion naira worth of three-month debt, 55.12 billion naira in six-month bill and 50 billion naira in one-year note, using the Dutch auction system on June 21. Settlement will be made next day after the auction.

On Friday, the monetary body said it would issue 1.24 trillion naira worth of the treasury notes in the third quarter, starting from June 15 to August 31.

The central bank issues treasury bills twice a month to help the government fund its budget deficit, support commercial lenders in managing liquidity and curb inflation.

The West African country expects a budget deficit of 2.36 trillion naira this year as it tries to spend its way out of a recession. It expects to raise money to cover more than half the deficit from the local market.

...........

This is sure to add more flavor to already booming TBills Investment. There is a possibility of rates going higher than normal in the coming months starting from next auction. It could hit 20-22%.

What do you think?

My bid rate of 18.4 was successful

elog:
My bid rate of 18.4 was successful

secondary market

Primary market, first bank. Got the alert this morning.

wamiikechukwu:
secondary market

Up till now nobody is talking about yesterday's auction?
Where is feelamong?
Zamirikpo?

wamiikechukwu:
secondary market

please, do banks issue Treasure bills certificate. ?
I invested in treasury bills with GTBANK but when as asked for the certificate, they said that they don't issue certificate...
is this
..?
what is my Evidence of investment..?
I only got three alerts debits...

Gavrelino123:
please, do banks issue Treasure bills certificate. ?
I invested in treasury bills with GTBANK but when as asked for the certificate, they said that they don't issue certificate...
is this
..?
what is my Evidence of investment..?
I only got three alerts debits...

i believe someone here has answered your question. stop worrying too much

am not yet in the business yet, am just gaining knowledge.

wamiikechukwu:
i believe someone here has answered your question. stop worrying too much

am not yet in the business yet, am just gaining knowledge.

Thanks bro....I'm this type of person that likes being sure of what I'm doing. .
thanks once more. ..I'm calm now

Damolux01:
FBN issues on request.

Thanks bro....I was just worried is there was a problem
thanks

amjustme2:
Some banks don't issue. I don't know if any still does.

FBN too does not issue.

The evidence is that debit alert. NTB is included as description. Your interest is also another evidence.

No need to worry.

FBN gives a proof of investment letter if you ask for it.

The letter will include the amount invested, interest rate in percentage, interest earned in Naira, maturity date of the investment and breakdown of bank charges on your investment

Secondary market for FBN ystdy was 91days- 14%, 120days-17.5%, 134 days-18% as I was abt going for the 134days, the marketing head of the branch came in and told the marketer discussing wt me that there was nothing like that,that I could only get 91days-13.4%,182days- @ 17.4% and 364days-18.3%. I just waka and went for 204days @ 17% with GTB. Got debited immediately,may not sound like a good deal but I'm happy with it, 1st time doing tbills and the interest is enormous as compared with FD which I'm used to.

amjustme2:
1.) Run from Ecobank.

Am not sure if that bank is good for anything right now. For your information they are in the process of shutting down 74 branches Nationwide. I guess that should explain a lot.

2.) Yes You can use IBTC or FBN. They are on fire right now. GTbank is not bad sha, You need to open account new account, unless you have existing.

3.) I can get FBN secondary Market rate for you tomorrow morning. The last 2 days has been tough for them: Poor network.

Others can help you with IBTC rate.


4.) Remember point 1.

Thanks bro, am learning.. I have been keeping my money in that account for long now, I didn't even do FD sef, they are just paying me 15k interest per month.. I will need to go and open FBN and Stanbic savings account

amjustme2:
http://af.reuters.com/article/nigeriaNews/idAFL8N1JB2YL

Nigeria plans 133 bln naira treasury bill sale next week


LAGOS, June 14 (Reuters) - Nigeria plans to sell 133.24 billion naira ($424 mln) worth of treasury bills at an auction next week, the central bank said on Wednesday.

The bank said it plans to offer 28.12 billion naira worth of three-month debt, 55.12 billion naira in six-month bill and 50 billion naira in one-year note, using the Dutch auction system on June 21. Settlement will be made next day after the auction.

On Friday, the monetary body said it would issue 1.24 trillion naira worth of the treasury notes in the third quarter, starting from June 15 to August 31.

The central bank issues treasury bills twice a month to help the government fund its budget deficit, support commercial lenders in managing liquidity and curb inflation.

The West African country expects a budget deficit of 2.36 trillion naira this year as it tries to spend its way out of a recession. It expects to raise money to cover more than half the deficit from the local market.

...........

This is sure to add more flavor to already booming TBills Investment. There is a possibility of rates going higher than normal in the coming months starting from next auction. It could hit 20-22%.

What do you think?

Thanks for dropping this. Here's what I think:
For the rest of the quarter, discount rates will remain in the 18% range. Of the 1.23trn bills to be sold in the quarter, only about 22bn will be fresh issue. What I feel the DMO is considering now is a balanced mix of the debt portfolio to avoid getting the FG choked on debt service cost.

@Mr Gavrielno, you can always request for your bank statements if the need arises, your T-bills investment must reflect in them. But as long as your bank is a licensed commercial bank, you should have absolutely no worries.