Acidosis:


na wa for FBN o. Banks generally don't roll over. Why ask customers to return to a branch after many months just to get back their money? A simple box where customers can tick an option to rollover on the application form will resolve this issue.

fbn also has this. I have never had to to return to the bank and have never had my tbills rolled over. I guess that process only refers to those who ticked the roll over and decide not to roll over again in the future

N1.02trn Inflow to Spike Excess Liquidity as CBN Sells N207b T-Bills
https://www.businesspost.ng/2018/08/27/n1-02trn-inflow-to-spike-excess-liquidity-as-cbn-sells-n207b-t-bills/

Grupo:
Hello guys, please help.

I have some cash lying idle in my gt bank account.

I want to use it to buy tbills until I decide what to do with it.

Which particular day within the week should I go to the bank and which unit of the bank should I directly to make enquiries.

(Make una forgive my ignorance o). Answer please.

Anyday the banking hall is open. For primary market, will the form latest on Monday, bidding is Wednesday, maturity days are Thursday. Go back and read this thread from beginning.

4601CE:

You don sight bonanza period
My Oga o
Oya check this out.

aremso:



i no sight bonanza period o ooo i need the money sharpaly that is why ooo and none of my ogas don answer me ooo

Out of curiosity guys, abeg wetin be bonanza period

Stanbic IBTC Secondary rates today;

11.6% (matures 3rd Jan 2019)

11.2% (matures 13th Dec 2018)

10.6% (matures 15th Nov 2018)

First Bank Secondary rates today;

11.25% for 143 days

11.20% for 178 days

11% for 122 days

11% for 199 days

irookie:


Out of curiosity guys, abeg wetin be bonanza period

It has nothing to do with Treasury Bills .sorry
Stock exchange stuffs.

Acidosis:


na wa for FBN o. Banks generally don't roll over. Why ask customers to return to a branch after many months just to get back their money? A simple box where customers can tick an option to rollover on the application form will resolve this issue.

There is usually an option box on FBN form to tick either for roll over or not when filling but somehow you have to look at the options well before ticking.. Most people don't and as such would end up ticking rollover.

umulobi:


I will go practical but leave theories for now.
I changed my 10,000pounds sterling towards end of January this year when exchange rate was N500 to a pound. That gave me N5,000,000.00.I invested same @Tb @ 13.3% then for 182days giving me an interest of N331,200 approximately after deductions. I have reinvested same principal after maturity for another 182days @10.2% giving my another upfront interest of N254,000 approximately after deductions. Instead of keeping my 10,000pounds idle in my room(bearing in mind risk of theft and arson) I have made an interest of N331,200+N254,000=N585,200 which I invested in my MMF.
Now,the true value of my 10,000pounds is N5,585,200.Converting it back to pounds at the current exchange rate of N460 is 12,142pounds
Therefore, I have made additional 2,142pounds on my initial 10,000pounds plus the little change running on MMF.
If I had kept the 10,000pounds in my room,the true value of the money would have been N4,600,000 now.
Summary, be wise in investment, don't always follow theoretical bases;watch the economy and forecast well bf investing.In my case,I do monitor exchange rate daily, I knew rate will be highest towards January ending n beginning of February BC of rush for forex as a result of payment of school fees abroad. I watch exchange rate hit N510-N515 then started declining and I forecasted it would not rise beyond those figures.I settled for N500 the day I went for transaction and behold after that week rate started declining.I am aware there may be other risk of devaluation of our Naira,but prior to any devaluation there is always news n noise including debates about that.Another strong indicator for devaluation is falling oil prices and whenever I notice that I would terminate my investment at maturity and convert my Naira to foreign currency.

Please can I get your WhatsApp number...


Can you mentor one in this regard...

4601CE:
You don sight bonanza period My Oga o Oya check this out.

Aremso
Don't rely on that. it's inaccurate.

Partnerbiz:


Aremso

Don't rely on that.
it's inaccurate.

I know that already.

Partnerbiz:


Aremso

Don't rely on that.
it's inaccurate.

I know that already.

sammily:
27/08/18

[b]First Bank Secondary rates today;

11.25% for 143 days

11.20% for 178 days

11% for 122 days

11% for 199 days

Today rates at first bank 28th August 2018

121days 11%
135days 11%
142days 11.25%
177days 11.2%

T-Bills Market Bullish as Money Market Rate Adds 6.04%
https://www.businesspost.ng/2018/08/28/t-bills-market-bullish-as-money-market-rate-adds-6-04/

janga:
Anyone have idea how to check Tbill maturity date via FirstOnline?

For GTbank its easy to check via the internet Banking but i have not see where Firstbank added it on FirstOnline

Please put me through on how to check maturity date via GTbank

Hamthablow:



Please put me through on how to check maturity date via GTbank

just login via their internet banking to check! ibank.gtbank.com

irookie:


Out of curiosity guys, abeg wetin be bonanza period

U go need read all the thread on nairaland before you understand our language of Bonanza period, the person asking me understood better.

mr ernie pls i would like to get in touch with u as regards the stock matter i am also interested but dont no how to send u a pm here cos im a bit new here am sorry

ernie4life:



send me a pm, am a Broker

Sedehomon:
mr ernie pls i would like to get in touch with u as regards the stock matter i am also interested but dont no how to send u a pm here cos im a bit new here am sorry

If you love yourself and ur hard earned money. Pls do not go through any personal broker.
Take your time to learn about stocks and reputable stocks broker from this thread please

https://www.nairaland.com/1131485/nigerian-stock-exchange-market-pick/3857

Godspikin:


Please can I get your WhatsApp number...


Can you mentor one in this regard...

Send me a Pm

Jejebabaa:


If you love yourself and ur hard earned money. Pls do not go through any personal broker.
Take your time to learn about stocks and reputable stocks broker from this thread please

https://www.nairaland.com/1131485/nigerian-stock-exchange-market-pick/3857

Gbam!

Face Value (Ngn):
500,000.000
Discount Value (Ngn):
488,924.660
Maturity Date:
November 1,2018
Tenor :
77
Settlement Date:

August 16,2018
Discount Rate:
10.5%
Custody Charges (Ngn):
405.480

Mode of Settlement; In-house


please the above was Wat GTB gave me in their recent treasury bill, if u minus 488,924.660 from the principal amount 500k u will get the interest paid upfront, as they said they couldn't get 90days for me rather 77days

please I feel the interest is poor at the rate of 10.5%, please house kindly look into this thanks

charles2468:

Face Value (Ngn):
500,000.000
Discount Value (Ngn):
488,924.660
Maturity Date:
November 1,2018
Tenor :
77
Settlement Date:

August 16,2018
Discount Rate:
10.5%
Custody Charges (Ngn):
405.480

Mode of Settlement; In-house


please the above was Wat GTB gave me in their488 recent treasury bill, if u minus 488,924.660 from the principal amount 500k u will get the interest paid upfront, as they said they couldn't get 90days for me rather 77days

please I feel the interest is poor at the rate of 10.5%, please house kindly look into this thanks

What do you mean you feel the interest is poor at 10.5%.
Are you saying you should get 15%? or are you saying you made your calculations and the upfront interest you got is less that 10.5%?

——
10.5% of 500000 is 52500
Your interest on 500000 is 52500 per year .
And you got 77 days.
But 365 days make a year .
Therefore ,your interest for 77 days should be;
Your interest should be 11075.3425 Naira
Now let’s see if that’s right
You said 488,924.660 Was deducted from your account.
Then 500000-488924.660=11,075.34 . That’s accurate

Well, and 405.480 charges .

charles2468:
Face Value (Ngn):
500,000.000
Discount Value (Ngn):
488,924.660
Maturity Date:
November 1,2018
Tenor :
77
Settlement Date:

August 16,2018
Discount Rate:
10.5%
Custody Charges (Ngn):
405.480

Mode of Settlement; In-house


please the above was Wat GTB gave me in their recent treasury bill, if u minus 488,924.660 from the principal amount 500k u will get the interest paid upfront, as they said they couldn't get 90days for me rather 77days

please I feel the interest is poor at the rate of 10.5%, please house kindly look into this thanks

pls tell me the bank process and requirement for T-bill

4601CE:
What do you mean you feel the interest is poor at 10.5%.
Are you saying you should get 15%? or are you saying you made your calculations and the upfront interest you got is less that 10.5%?

——
10.5% of 500000 is 52500
Your interest on 500000 is 52500 per year .
And you got 77 days.
But 365 days make a year .
Therefore ,your interest for 77 days should be;

(77/365)*52500 =11075.3425

Your interest should be 11075.3425 Naira
Now let’s see if that’s right
You said 488,924.660 Was deducted from your account.
Then 500000-488924.660=11,075.34 . That’s accurate

Well, and 405.480 charges .

Nor be MMM my brother.

#smiles# Thanks brotherly
not really MMM, I was thinking of that 52k b4 not knowing is for full year

Adegokenath:
pls tell me the bank process and requirement for T-bill

Firstly I had an account with them, so all I did was writing application n wait for bidding to be done datsall

charles2468:



#smiles# Thanks brotherly
not really MMM, I was thinking of that 52k b4 not knowing is for full year

Sedehomon:
mr ernie pls i would like to get in touch with u as regards the stock matter i am also interested but dont no how to send u a pm here cos im a bit new here am sorry

drop your email, I will contact

My friend built a house for 5.5 m naira in 2007 sold it for 27 million naira today having earn 5m as rent for the house over 10 year period 27+5 =33m ......if that money was in treasury bill it will be around 22.5 million hence extra 10 m was made ....this is a life experience oooh ..guys i think we should expand our portfolios even if he converted the fund to dollar 45000 dollar 10 year ago to buy dollar bond it will now be 81000 dollar at 6 percent which will be 29,0000000 million...

ahiboilandgas:
My friend built a house for 5.5 m naira in 2007 sold it for 27 million naira today having earn 5m as rent for the house over 10 year period 27+5 =33m ......if that money was in treasury bill it will be around 22.5 million hence extra 10 m was made ....this is a life experience oooh ..guys i think we should expand our portfolios even if he converted the fund to dollar 45000 dollar 10 year ago to buy dollar bond it will now be 81000 dollar at 6 percent which will be 29,0000000 million...

What are you waiting for then? hurry now while stocks last!

ahiboilandgas:
My friend built a house for 5.5 m naira in 2007 sold it for 27 million naira today having earn 5m as rent for the house over 10 year period 27+5 =33m ......if that money was in treasury bill it will be around 22.5 million hence extra 10 m was made ....this is a life experience oooh ..guys i think we should expand our portfolios even if he converted the fund to dollar 45000 dollar 10 year ago to buy dollar bond it will now be 81000 dollar at 6 percent which will be 29,0000000 million...

It depends on the location of the property. It doesn't go well in some cases.

ahiboilandgas:
My friend built a house for 5.5 m naira in 2007 sold it for 27 million naira today having earn 5m as rent for the house over 10 year period 27+5 =33m ......if that money was in treasury bill it will be around 22.5 million hence extra 10 m was made ....this is a life experience oooh ..guys i think we should expand our portfolios even if he converted the fund to dollar 45000 dollar 10 year ago to buy dollar bond it will now be 81000 dollar at 6 percent which will be 29,0000000 million...

Have you seen the high number of houses for sale dotting every nook and cranny of Lagos?.

Btw, where is that house located?. It is not enough to just give us how much he sold it. The location and type of house is also needed.