₦airaland Forum

Partnerbiz3:
My bro, I was surprised that nobody here knows the answer to this question. I have asked similar questions many times and nobody has given a reasonable answer..

most people here haven't terminated, however its been said times without number that the charges is on the interest not your capital if you are scared of your capital taken away.

Go to the bank and it will computed for you, cheers.

yomi007k:


I guessed rates were gonna fall...

So I bought 309 days from secondary market yesterday morning at 18 % @ First bank....and still reinvested my interest.

I thank God for wisdom and everyone dt gave advise here..

you really acted with wisdom.
your money won't be moving at 18% but at 21%+
kudos.

chukzyfcbb:
most people here haven't terminated, however its been said times without number that the charges is on the interest not your capital if you are scared of your capital taken away.

Go to the bank and it will computed for you, cheers.

Those bank attendants? Those ones no be am..

chukzyfcbb:
you really acted with wisdom.
your money won't be moving at 18% but at 21%+
kudos.

Tnx boss.

tanks a lot I appreciate but I invested in GTB nd even sent my bid on Tuesday to bit d time nd av not heard anytin from dem sinc den,did any1 invested wit GTB dis wk? Cos I bided 17.25% for 182 days so I biliv it shld go thru

Pls how can i see all my investments in the online banking platform.

NL1960:
You have a point. Let us see the rates from other banks as i do not want to believe that the banks have formed a TB Union so as to be bidding at about the same rate.

Who has the rates for GTB and First Bank?.

NL1960, I agree with you that because people are locking down their investments it is pushing the rate lower. Demand and supply in action. If you look at the total subscription (339bn) relative to the amount offered (87bn) you'll see that it was over-subscribed by almost 3 times. That couple with the fact that the low end of the bids went to 17% form 18% is what caused the drop.

I think rates will go down some more before they stabilize as investors continue to push to lock in rates.

CBN Sells N197.3b Treasury Bills This Week
https://www.businesspost.ng/2017/09/15/cbn-sells-n197-3b-treasury-bills-week/

hiscules:
I got 17.1% for 203 days from stanbic today, is this a good deal??

GOOD.... But i think they sold to you from Secondary market

NEW SCAM ALERT.

I bidded through FCMB but i was shocked to my bone marrow that FCMB bidded 18.20 (calculated attempt to keep my money)
note that my money has been sitting since 1st of september.

am so bidding using my rate next time

be advised

Partnerbiz3:
My bro, I was surprised that nobody here knows the answer to this question. I have asked similar questions many times and nobody has given a reasonable answer..

and why are you surprised if I may ask? Did you keep any paid expert here to answer your questions? It's an open forum and people only talk about what they know. If no one answers you, just assume no one knows and waka pass. Saying no one gave you a reasonable answer is a slight to the very helpful and informative people in this forum.

Policies have not started affecting rates yet. The drop was not across all tenors. I don't agree that rates have started dropping because if you look at the results, you will see that 91 day tenor rate increased from previous auction. The 182 day rate remained unchanged at 17.361 from previous auction. The 364 day tenor suffered a punch because of the natural law of demand and supply. Imagine CBN offering about 86billion for 364 day tenor and guys brought in over 336billion just to go for the kill. The 182 day bills rate helped to benchmark the 364 day as the 364 day rate cannot be lower than the 182 day. See how close they are. Imagine if it was only 364 day bill that was sold, the rate would have crashed to MPR rate of 14% due to the demand.

Most investors went for the jugular point and kill (364 day). Next auction will probably see an influx in the 182 day tenor and if it becomes over subscribed and the next 364 day is also oversubscribed by a larger than life size, rates will crash heavily and this time, it will be a knock out.

unite4real:
Policies have not started affecting rates yet. The drop was not across all tenors. I don't agree that rates have started dropping because if you look at the results, you will see that 91 day tenor rate increased from previous auction. The 182 day rate remained unchanged at 17.361 from previous auction. The 364 day tenor suffered a punch because of the natural law of demand and supply. Imagine CBN offering about 86billion for 364 day tenor and guys brought in over 336billion just to go for the kill. The 182 day bills rate helped to benchmark the 364 day as the 364 day rate cannot be lower than the 182 day. See how close they are. Imagine if it was only 364 day bill that was sold, the rate would have crashed to MPR rate of 14% due to the demand.

Most investors went for the jugular point and kill (364 day). Next auction will probably see an influx in the 182 day tenor and if it becomes over subscribed and the next 364 day is also oversubscribed by a larger than life size, rates will crash heavily and this time, it will be a knock out.

sure been try to get a one year tb for two auction but cant get by using gtb guess time to move to stanbic

xammy:
NEW SCAM ALERT.

I bidded through FCMB but i was shocked to my bone marrow that FCMB bidded 18.20 (calculated attempt to keep my money)
note that my money has been sitting since 1st of september.

am so bidding using my rate next time

be advised

How is this an attempt to keep your money?
Before now, the rates hovered between 18.1 and 18.5. That they wrongly estimated doesn't mean they want to keep your funds

Partnerbiz3:
My bro, I was surprised that nobody here knows the answer to this question. I have asked similar questions many times and nobody has given a reasonable answer.

Can you imagine?

What useful piece of information have you deposited here that gives you the right to a "reasonable answer"? What would stop you from contacting your bank's CC and coming to share here?

In fact, someone posted something saying a penalty of less than 5% of interest but you somehow missed that one.

olujaidi:
Can you imagine? I don't want to call you a parasite o

But then, what useful piece of information have you deposited here that gives you the right to a "reasonable answer"? What would stop you from contacting your bank's CC and coming to share here?

Infact, someone posted something saying a penalty of less than 5% of interest but you somehow missed that one.

Calm down. The 5% ish can be anything but the answer, that's if you have the facilities to analyse it.

onayemi1:
Secondary rate @UBA. 245days for 16%, 133days for 13.9% and 77days for 13.5%

All these days that seem odd compared to the days tenure one get from primary market, how do you calculate their actual percent?

I got 17.36% for 182 days from fidelity bank yesterday.

It is my first time doing tb .

I would have instructed them to reinvest interest if I knew b4. I will surely do so next time.

Thanks for the info shared here.

jp130:
My bid wasn't successful n it was returned. I hop I will b lucky next week.

Why not confirm from your bank if they will sell to you at the market rate?
Fidelity bank is selling to their customers at prevailing market rate for the 182 and 92 days, but not for one year. I feel it is better to buy now than waiting for the next bid as rates might come down.

Partnerbiz3:
Calm down. The 5% ish can be anything but the answer, that's if you have the facilities to analyse it.

This guy should be ignored henceforth.

BtW..
@Zamiriko, Alikote, feelamong, and all..

i think this over subscription might be related to the news in the link below if you all remember.

And thats probably why they tried stop individuals from that auction too.

my kobo thoughts..

https://www.dailytrust.com.ng/news/business/tsa-fg-invests-n300bn-unclaimed-funds-in-treasury-bills/210552.html

Wen I went to d bank, he said that dey r going to d market next week. N dat branch don't do secondary market. I dnt like banks with limitations wen oda banks r exploring all ankles of d investment

mamatwiny:
Why not confirm from your bank if they will sell to you at the market rate?
Fidelity bank is selling to their customers at prevailing market rate for the 182 and 92 days, but not for one year. I feel it is better to buy now than waiting for the next bid as rates might come down.

Pls apart from bank,which other reliable financial company one can do his NTB investment cos is as if am tired of doin wit bank cos at times dey won't just put my investments thru despite biddin within d cbn rate,for example d last one I bided 17.25 % for 182 days with GTB but still didn't hear anything from dem despite CBN rate being 17.361% for 182 days.

michael03:
Pls apart from bank,which other reliable financial company one can do his NTB investment cos is as if am tired of doin wit bank cos at times dey won't just put my investments thru despite biddin within d cbn rate,for example d last one I bided 17.25 % for 182 days with GTB but still didn't hear anything from dem despite CBN rate being 17.361% for 182 days.

Are you bidding with more than 50 million nairas?

there are NO other "reliable" financial instutions for TBills..

this is bank turf only for individual investors.

xammy:
GOOD.... But i think they sold to you from Secondary market

oh yes , I bought from secondary market. I learnt if you don't have 50m you can't invest in primary market.

michael03:
Pls apart from bank,which other reliable financial company one can do his NTB investment cos is as if am tired of doin wit bank cos at times dey won't just put my investments thru despite biddin within d cbn rate,for example d last one I bided 17.25 % for 182 days with GTB but still didn't hear anything from dem despite CBN rate being 17.361% for 182 days.

Chief, I would advise you port your cash to either Stanbic or FBN, if you still intend investing via banks. Regards

RealityShot:
Are you bidding with more than 50 million nairas?

there are NO other "reliable" financial instutions for TBills..

this is bank turf only for individual investors.

Not true. I have been doing tbills with axa mansard investments since the beginning of the year and I have no cause to complain. I prefer them because I can have all the attention I need and I am sure of getting my tbills through on the secondary market. The bankers don't give you that dedicated attention save for a few.

Sylverly:
All these days that seem odd compared to the days tenure one get from primary market, how do you calculate their actual percent?

Same way. For example if 177 days is 13.9% the actual percentage is 177/365 times 13.9

1wolex85:
Same way. For example if 177 days is 13.9% the actual percentage is 177/365 times 13.9

oohh...thanks bro.

1wolex85:
Not true. I have been doing tbills with axa mansard investments since the beginning of the year and I have no cause to complain. I prefer them because I can have all the attention I need and I am sure of getting my tbills through on the secondary market. The bankers don't give you that dedicated attention save for a few.

Good to know..

But isnt that firm like a mutual fund?

ibtc Asset Management also does tbills..but their minimum inv is 30million..

whereas the bank is min 100k..

how can i talk more about TBills through such firm which obviously isnt encouraging direct TBills investment for individuals..

well if they are making it easier for you to buy than through banks ..Please do tell us how they work.

thank you

RealityShot:
Good to know..

But isnt that firm like a mutual fund?

ibtc Asset Management also does tbills..but their minimum inv is 30million..

whereas the bank is min 100k..

how can i talk more about TBills through such firm which obviously isnt encouraging direct TBills investment for individuals..

well if they are making it easier for you to buy than through banks ..Please do tell us how they work.

thank you

These investment firms are also allowed to do tbills. For AXA Mansard, I think the minimum is 1 million, their MMF is seperate and it's not the firms that are discouraging direct tbills investment, it's cbn policy, if you have your 50m today, you can bid directly.

olujaidi:
Can you imagine?

What useful piece of information have you deposited here that gives you the right to a "reasonable answer"? What would stop you from contacting your bank's CC and coming to share here?

In fact, someone posted something saying a penalty of less than 5% of interest but you somehow missed that one.

My dear don't mind that boi.... some people just don't know how to express themselves in public. If he reads about 5threads back he would find the answer. But no,he wants to be spoon fed.

Mtcheww...

1wolex85:
Not true. I have been doing tbills with axa mansard investments since the beginning of the year and I have no cause to complain. I prefer them because I can have all the attention I need and I am sure of getting my tbills through on the secondary market. The bankers don't give you that dedicated attention save for a few.

Truth be said....i would prefer to give my money to an established bank than a fund manager.......even the banks are not rock solid, how much more a mutual fund manager.