Treasury Bills In Nigeria - Investment (392)

Treasury Bills In Nigeria - Investment (392) - Nairaland

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Re: Treasury Bills In Nigeria by vitality22(m): 8:58pm On Sep 17, 2017

zamirikpo:
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.

My bros, am really with you on this one ooooo.Mutual fund manager ke, i cannot afford to see my cash dancing etighi and makossa oooo

Re: Treasury Bills In Nigeria by Gavrelino123: 9:24pm On Sep 17, 2017

zamirikpo:
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.

You have said it all....

Re: Treasury Bills In Nigeria by Partnerbiz3: 5:44am On Sep 18, 2017*

THE QUESTION

If I invest, say 1 million in T bills for 365 days at
say 18% and I terminate after 60 days, what's
likely to be my penalty?

zamirikpo:
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.
Realityshot.
Mtcheww...

Oga stop basking in empty euphoria. The answer isn't here. I wager you don't know either and wouldn't bother too because of incuriosity. I stated that nobody here knew and wondered why you took it personally and felt emasculated.

Re: Treasury Bills In Nigeria by zamirikpo(m): 8:03am On Sep 18, 2017

Partnerbiz3:
Oga stop basking in empty euphoria. The answer isn't here. I wager you don't know either and wouldn't bother too because of incuriosity. I stated that nobody here knew and wondered why you took it personally and felt emasculated.

Village rat......mtcheww........

Re: Treasury Bills In Nigeria by Partnerbiz3: 8:20am On Sep 18, 2017

zamirikpo:
Village rat......mtcheww........

I wouldn't deign as to engage in exchange of contumelies with you. I expected a brilliant riposte. I am disappointed, highly disappointed.

Re: Treasury Bills In Nigeria by AkDave1: 9:29am On Sep 18, 2017

If not for anything... I must say your grandiloquence is amusing.. I enjoy it. Please lets maintain orderliness.. Your both points are well taken.

Partnerbiz3:
I wouldn't deign as to engage in exchange of contumelies with you. I expected a brilliant riposte. I am disappointed, highly disappointed.

Re: Treasury Bills In Nigeria by Reyus: 9:34am On Sep 18, 2017

Na wa for FGN.
From 2 year bond...to 3 year bond to.. 7 year bond.

The Debt Management Office (DMO) on behalf of Federal Government is issuing a 7–year FGN Sovereign Ijarah Sukuk Due 2024 at a return of 16.47%. Sukuk is an investment certificate that represents ownership interest of the holder in an asset or pool of assets.

1 Like

Re: Treasury Bills In Nigeria by meetchandus(m): 9:37am On Sep 18, 2017*

Hello house,please is it there going to be primary market auction this week?Thanks

Re: Treasury Bills In Nigeria by Olarewajub: 11:23am On Sep 18, 2017

meetchandus:
Hello house,please is it there going to be primary market auction tomorrow?Thanks

Thursday i think. Our Ogas will have more accurate answer.

Re: Treasury Bills In Nigeria by Partnerbiz3: 11:27am On Sep 18, 2017

AkDave1:
If not for anything... I must say your grandiloquence is amusing.. I enjoy it. Please lets maintain orderliness.. Your both points are well taken.

Eiyaa, I am afraid, what you deem grandiloquent words are my everyday words. No fault of mine.

Re: Treasury Bills In Nigeria by PinocchioDMZ: 11:47am On Sep 18, 2017

Hello Friends, can someone advise which rate to bid for 182days and 364days in primary market for this week.

Re: Treasury Bills In Nigeria by Amebo123: 1:11pm On Sep 18, 2017

PinocchioDMZ:
Hello Friends, can someone advise which rate to bid for 182days and 364days in primary market for this week.

It depends, do you have N50M to bid in the primary market? if not go with bank rate.

Re: Treasury Bills In Nigeria by Olarewajub: 2:20pm On Sep 18, 2017

I was informed at First Bank today that there is no auction for this week

Re: Treasury Bills In Nigeria by PinocchioDMZ: 2:21pm On Sep 18, 2017

Amebo123:
It depends, do you have N50M to bid in the primary market? if not go with bank rate.

What I asked was a possible rate for this week's primary market.

Fidelity Bank combines both primary and secondary using same primary rate to sell to their customers.

Please can someone knowledgeable advise on a possible rate for Thursday primary market.

Re: Treasury Bills In Nigeria by PinocchioDMZ: 2:24pm On Sep 18, 2017

Olarewajub:
I was informed at First Bank today that there is no auction for this week

I just confirmed from fidelity bank that there would an auction on Thursday but they said my instruction much get to them before 12pm Tomorrow.

Re: Treasury Bills In Nigeria by NL1960: 2:36pm On Sep 18, 2017

Olarewajub:
I was informed at First Bank today that there is no auction for this week

jp130:
Here is d calendar, does it mean dat applications will b treated today?

https://nairametrics.com/nigerias-official-treasury-bills-calendar-for-2017/

No mind them. Iam sure it was from a branch that you were told that. When did First Bank become CBN?. See the official TB calendar.

Re: Treasury Bills In Nigeria by zamirikpo(m): 2:47pm On Sep 18, 2017

PLS HAS ANYONE
HEARD FROM
@FEELAMONG
It's been a while.

2 Likes

Re: Treasury Bills In Nigeria by Olarewajub: 3:28pm On Sep 18, 2017

NL1960:
No mind them. Iam sure it was from a branch that you were told that. When did First Bank become CBN?. See the official TB calendar.

Hmmm

Re: Treasury Bills In Nigeria by Olarewajub: 3:28pm On Sep 18, 2017

NL1960:
No mind them. Iam sure it was from a branch that you were told that. When did First Bank become CBN?. See the official TB calendar.

You guys should advise me on what to do.
The treasury bill officer asked where i got the info that there is going to be an auction on Thursday. I told him CBN website.
He told me that there won't be an auction this Thursday because its done bi-weekly..Nevertheless he advised i submit my application ; which I intend to do tomorrow

Please am safe with this option or should I consult another branch ?

Re: Treasury Bills In Nigeria by Nobody: 3:39pm On Sep 18, 2017

Olarewajub:
You guys should advise me on what to do.
The treasury bill officer asked where i got the info that there is going to be an auction on Thursday. I told him CBN website.
He told me that there won't be an auction this Thursday because its done bi-weekly..Nevertheless he advised i submit my application ; which I intend to do tomorrow

Please am safe with this option or should consult another branch ?

They have said it series of time here that not all bank staff are knowledgeable on TB issues. Visit another branch, ask for the officer in charge of TB not anybody in the customer service dept. If u live in Lagos go to the Island branch they are more knowledgeable. Though I use Stanbic but not even in Island but I think they have competent staff that are very good and knowledge wise on TB

1 Like

Re: Treasury Bills In Nigeria by NL1960: 4:20pm On Sep 18, 2017

Olarewajub:
You guys should advise me on what to do.
The treasury bill officer asked where i got the info that there is going to be an auction on Thursday. I told him CBN website.
He told me that there won't be an auction this Thursday because its done bi-weekly..Nevertheless he advised i submit my application ; which I intend to do tomorrow

Please am safe with this option or should I consult another branch ?

Print the TB calendar that was attached here and go and show it to the person. It was last week that there was uncertainty because there was no calendar. The calendar is out now. It is not compulsory that TB is done from your branch. Go to another branch to cross check.

2 Likes

Re: Treasury Bills In Nigeria by Lexit: 4:52pm On Sep 18, 2017

Hello everyone. I terminated my TB with Stanbic today. I did 1million TB in April at the rare of 18.54 percent for 364 days but decided to terminate it today owing to exigency. I wrote a letter indicating that I wanted to terminate. I attached my hard copy of evidence of investment which I got from my bank. I took both the hard copy and my letter to the bank. I just got an alert of N8899920.55 with another debit of 300 naira as transfer fee. Obviously I only lost part of my interest not my capital owing to the fact that the discount value was initially N815,107.95.
For those asking questing about TB termination I hope this allays your fear.
One love.

4 Likes

Re: Treasury Bills In Nigeria by meetchandus(m): 4:56pm On Sep 18, 2017

Same thing happened with me as I called on Friday and I had to emphasise to the person in charge that till will be auction this week.He texted me this morning confirming there will be another auction this week.

Seems the person you talked to hasn't checked the calender yet as he assumes its the usual Bi weekly schedule.Be sure to have your form in before 12noon(2pm for zenith in my case)as it is the cut off time to avoid missing out

Re: Treasury Bills In Nigeria by Olarewajub: 5:36pm On Sep 18, 2017

Treasuty Bill Calender

Re: Treasury Bills In Nigeria by Investnow2017: 6:01pm On Sep 18, 2017

zamirikpo:
PLS HAS ANYONE
HEARD FROM
@FEELAMONG
It's been a while.

He is not feeling among us anymore grin

Re: Treasury Bills In Nigeria by zamirikpo(m): 8:57pm On Sep 18, 2017

Investnow2017:
He is not feeling among us anymore

.

2 Likes

Re: Treasury Bills In Nigeria by Etfash(m): 11:26pm On Sep 18, 2017

zamirikpo:
PLS HAS ANYONE
HEARD FROM
@FEELAMONG
It's been a while.

Perhaps he has access to information that has made this seemingly okay interest rates a scam.

Re: Treasury Bills In Nigeria by zamirikpo(m): 1:16am On Sep 19, 2017

Etfash:
Perhaps he has access to information that has made this seemingly okay interest rates a scam.

The last time he was here, he talked about Bitcoin......and am sure he started a new thread for that.

Has he abandoned us for the Bitcoin section. PLS @FEELAMONG if u can read this.....it will be nice to hear from u again. If u r on to some new and better investment,PLS carry us along.

Re: Treasury Bills In Nigeria by skydiver01: 4:27am On Sep 19, 2017*

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

Re: Treasury Bills In Nigeria by skydiver01: 4:30am On Sep 19, 2017*

Partnerbiz3:
Oga stop basking in empty euphoria. The answer isn't here. I wager you don't know either and wouldn't bother too because of incuriosity. I stated that nobody here knew and wondered why you took it personally and felt emasculated.

From my TB liquidation knowledge, I imagine the reason no one has answered is that different banks and discount houses treat TB liquidations differently. Some quote to repurchase your TB using current market discount rates which may eat into your principal (if rates have risen) and others maintain your purchase rate and apply a penalty rate e.g. 1 or 1.5% of the nominal value over the remaining TTM which is applied to the interest you would have earned over the period you actually held it for (not the initial purchase duration) with the balance paid to you. The shorter the period held for the greater the chances that it will eat into your principal and vice-versa. This is the reason, why most people hold to maturity and if not possible, hold for more that 75% of the initial purchase duration. It is only in an emergency that TBs are liquidated or perhaps one wishes to take advantage of some other opportunity that will cover any capital or interest loss.

As many have said, approach the institution you used for the purchase and ask them how they treat TB liquidations and any charges that apply. Also ask specifically what you will receive if you liquidated e.g. today. This will enable you know whether you will receive your principal intact or not. Their response, I imagine will guide your next steps. Perhaps you would be so good as to share your findings with the house.

But to specifically answer your N1m example held for 60 days that was initially bought for 364 days; Since discount rates have not moved much over the last 60 days, I imagine you will only lose as a penalty about 50% of the interest you would have earned over the 60 days. Will give example figures below using a penalty of 1.5%. Hope it helps.

2 Likes

Re: Treasury Bills In Nigeria by skydiver01: 4:54am On Sep 19, 2017

Partnerbiz3:
Oga stop basking in empty euphoria. The answer isn't here. I wager you don't know either and wouldn't bother too because of incuriosity. I stated that nobody here knew and wondered why you took it personally and felt emasculated.

Re: Treasury Bills In Nigeria by airamuche: 6:26am On Sep 19, 2017

Good Morning, Submitted The Form yesterday afternoon *2pm *Stanbic ibtc , there is auction this week , My First Time Tho , walked in like a boss , Spoke like a boss , Thanks for all the posts and advice , Read from 1- current page

10 Likes

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