zamirikpo:


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.

.........................and let us FEEL AMONG toooo

.

Investnow2017:



.........................and let us FEEL AMONG toooo

.

We are now over to bitcoin trading and Usitech investments

Please can anyone name Banks don't pay interest ahead ..
Cos my friend invested in tbill..one bank paid interest immediately and they other took the money but no interest paid...

Investnow2017:



.........................and let us FEEL AMONG toooo

.

You will find Feelamong here...
https://www.nairaland.com/3657807/bitcoins-all-bitcoins-investment-bitcoin/20#60446364

DMO to Auction N135b Bonds Next Wednesday
https://www.businesspost.ng/2017/09/19/dmo-auction-n135b-bonds-next-wednesday/

Growth in Money Supply Falls Below Targets
https://www.businesspost.ng/2017/09/19/growth-money-supply-falls-targets/

CBN to Sell N140.9b Treasury Bills Thursday
https://www.businesspost.ng/2017/09/19/cbn-sell-n140-9b-treasury-bills-thursday/

Hi peeps, looks like my TB plans for tmrw has just been thrown into d wind. Went to ooen an acct on mon wt stanbic, thinking i would get a no dat same day, but was tild dey need to do a KYC (know ur customer ) b4 opening it today. Went to anoda branch to do d bills but they still need d acct details
Up till nw, i have not heard from dem and the headoffice (anoda branch) just called me telling me she has called the acct officer and told her i wanted to do tbills (imagine!!!) to hasten the acc opening. Hewu!!!, looks like d acc may not be opened again today since today is der deadline for tbills submission

Investnow2017:





He is not feeling among us anymore

.

Una no go kee person with laugh for here sha!

Still very much around...just that like many here said working on the Bitcoins/Cryptos side a lot more..

BTW there is an Auction tomorrow.

Hey Guys!

I submitted my application today (First Bank) and my account was debited immediately.


My confussion is no interest was paid, rather they took the whole sum i invested.

What should i do?

Olarewajub:
Hey Guys!

I submitted my application today (First Bank) and my account was debited immediately.


My confussion is no interest was paid, rather they took the whole sum i invested.

What should i do?

Nothing. If you are successfully, your upfront interest will be credited back to the same account.

NL1960:


Nothing. If you are successfully, your upfront interest will be credited back to the same account.

Thank you

wait for a while if you are successful , y
ou will see your interest in your account..

Olarewajub:
Hey Guys!

I submitted my application today (First Bank) and my account was debited immediately.


My confussion is no interest was paid, rather they took the whole sum i invested.

What should i do?

For first bank there is an option of rolling over capital with interest or investing principal plus interest on their TB form are you sure you didn't select it?

If you are very sure you didnt choose that option then just exercise patience till to close of business today you should see it but if you didn't.,you can either call, mail or go and complain physically.

feelamong:



Una no go kee person with laugh for here sha!

Still very much around...just that like many here said working on the Bitcoins/Cryptos side a lot more..

BTW there is an Auction tomorrow.

So nice of you. Thanks

.

LOL

Investnow2017:



.........................and let us FEEL AMONG toooo

.

skydiver01:



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.

Thanks for that apt analysis.
I think, though, that there may never be a situation that will warrant one losing one's capital for terminating before maturity.

For example, If I do 1 million for 364 days at 18% and terminate after 100 days when prevailing rates are 7%, I would still not lose my capital even if they are to repurchase at that 7% rate.

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

Then what are you still doing there?
Just move in to better banks I'd you ate not satisfied with their services.

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

Except you were trying to invest over N50m. I can't really understand why you were not able to get a onecyr TB for "two autions".

If it was for less than N50m, you would have gone with the bank''s rate, and I have never heard that GTB failed to succeed in any of their bids this yr and from an earlier post, somebody posted that he had a successful 364day-TB with same bank in the last auction. So why is yours different?

Hope you are not being deceived by someone in the bank especially your accounts officer if you involved him

You better take a bow and leave to better TB banks

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

Again, I hope you are not specifying your own bid rate in the form given to you at the bank if your investment is below N50m instead of indicating that you want to go with the bank rate?

If that is what you have been doing, there lies your problem. Ideally, the bank is supposed to reject your application if you do so and inform you that it can't be processed except you are prepared to go with their rate. But because they are usually not happy that you want to do TB, they will deliberately not correct you and each time, they will keep telling you that "your bI'd was not successful" and your money will remain there for them to use until you wise-up

PinocchioDMZ:


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.

Auctions are never held in Thursdaysome but Wednesdays old note

Investnow2017:



.........................and let us FEEL AMONG toooo

.

My guy Cryptos/Bitcoins is not for the faint hearted or lily livered.... but we have figured out a risk free way to go about it and the gains are awesome!!

We should all be bidding for long dated Tbills now as we expect a gradual drop in the discount rates..

No OMO for some time now so liquidity is high

Pls why do people still key into TB at 17% or thereabaut while money market fund is 18.62 for Stanbic and 19.13% for fbn. Still mmf compounds quarterly which is another advantage against TB or is there anything i do not understand abaut them? pls explain

Kevostica:
Pls why do people still key into TB at 17% or thereabaut while money market fund is 18.62 for Stanbic and 19.13% for fbn. Still mmf compounds quarterly which is another advantage against TB or is there anything i do not understand abaut them? pls explain

There is what is called true yield. If your money is a bit high, then TB is the best but if your money na the kobo kobo type, then you can do MMF.

If you have chance to buy Tbills now...better do as fast as you can becos from what we are seeing in the deal books..the rates would crash massively at this Auction.

Lock in fast for any secondary market rate especially the 182 to 364 days..

The Demands from the banks and Pension funds is awesome!!

NL1960:


There is what is called true yield. If your money is a bit high, then TB is the best but if your money na the kobo kobo type, then you can do MMF.

pls explain true yield better. i dont understand

Kevostica:

pls explain true yield better. i dont understand

This was explained by some guys here way back.

See this and the source link below:

Question: I highly appreciate your enlightening and inspirational writeups in the Punch Newspaper. I have come across the term ‘true yield’ in treasury bills which is usually higher than the actual rate. Please can you through more light on this?

Answer: Thanks for your question. To understand true yield in treasury bills, you need to place it side by side with other money market instruments like fixed deposits whereby you earn interest upon maturity. With treasury bills, you earn interest upfront, that means what you actually invest is less than the face value, hence your true yield calculation is based on the actual amount invested.

To further clarify, I will illustrate with an investment of N1Million for 364 days, fixed deposit vs treasury bills, assuming a 10% rate of return.

Starting with fixed deposits, your interest (I) in one year amounts to:

I = P x T x R/100 (where P is your sum invested, T is time in years and R is interest rate)

So here goes:

I = 1,000,000 x 1 x 10/100 = 100,000.

In addition, you will be charged a withholding tax of 10% bringing your true yield to 9% (90,000)

For treasury bills, your upfront interent comes to the same thing:

I = 1,000,000 x 1 x 10/100 = 100,000.

This will be returned to you as interest while 900,000 will be booked for one year, so in effect, you are investing 900,000 and not 1,000,000 is your received a cash back of 100,000.

From the formula:

I = P x T x R,

R = I x 100/(P x T)

So your true yield becomes

R = 100,000 x 100/(900,000 x 1) = 11.11%

Please note that the actual time is 364/365 days. I used 1 to simplyfy the calculations. If you were calculation for a 91 day tenor, the time T would be 91/365 and for a 182 days tenor, 182/365.

Your yield becomes even higher if you reinvest your upfront interest instead of consuming it.

Source: http://www.financialfreedominspiration.com/true-yield-treasury-bills/

After people go say you don abandon us here. LOL

feelamong:

If you have chance to buy Tbills now...better do as fast as you can becos from what we are seeing in the deal books..the rates would crash massively at this Auction.

Lock in fast for any secondary market rate especially the 182 to 364 days..

The Demands from the banks and Pension funds is awesome!!

feelamong:

If you have chance to buy Tbills now...better do as fast as you can becos from what we are seeing in the deal books..the rates would crash massively at this Auction.

Lock in fast for any secondary market rate especially the 182 to 364 days..

The Demands from the banks and Pension funds is awesome!!

Let me first welcome u back. Then I want to report all this our threadmates to u. No body remembered u, while u were away. Na only me, @investnow2017 And @vitality22 ask after u.

So PLS involve us in the Bitcoin tins cos, our money have not mature to be able to reinvest. in TB now .

And as the rates are dropping we have to port....charp charp

feelamong:

If you have chance to buy Tbills now...better do as fast as you can becos from what we are seeing in the deal books..the rates would crash massively at this Auction.

Lock in fast for any secondary market rate especially the 182 to 364 days..

The Demands from the banks and Pension funds is awesome!!

How low do you think the rates would crash by October? My Tbill matures early next month and I plan to reinvest for another one year. But with posts like yours and other warning calls, I can't help but be very paranoid