Firstbank secondary market tenor as at today Friday, March 15, 2019.
349 - 12.30%
300 - 12.40
286 - 12.30
272 - 12.30
265 - 12.30
258 - 12.40
244 - 12.45
167 - 12.30

You sound very frustrated,huh? I can understand why there is a lot of frustration these days. But you should direct your frustration elsewhere. Because Ghan is not responsible for whatever is going on in your country,huh? Fuckeduppedness

234ng44uk:


The answer to your question is in the original post by GonFreecss1, read in-between the line, slooooowly



Whatever your interest or obsession with Ghana is, is your problem. That being said, enough of the Ghana nonsense from you. So stop derailing the thread.

A Nigerian wants to buy treasury bills in Ghana? Why? I thought you nigerians said the economy of Lagos was even bigger than that of Ghana? So why would a Nigerian want to do with a Ghanaian treasury bond?

234ng44uk:


The answer to your question is in the original post by GonFreecss1, read in-between the line, slooooowly



Whatever your interest or obsession with Ghana is, is your problem. That being said, enough of the Ghana nonsense from you. So stop derailing the thread.

I won’t even dignify your trash with a response? Pure trash!

Akin3891:



This petro guy seems to have hate issue with Nigerians, n i think u r the type n u sound just like one that will make life of Nigerians living in Ghana hell, if given the slightest chance. You didn't even know what brought about the cedi talk, you just dived in like a Ghanaian soldiers trying to safe his country from sinking. We are discussing investments here not politics. Show me how i can make legit money in Ghana and i show u mine, then we all become richer,this is how we roll here.. NOT :my country is this n urs is dat,who that one epp? Baby talk

PetroDollaxx:
A Nigerian wants to buy treasury bills in Ghana? Why? I thought you nigerians said the economy of Lagos was even bigger than that of Ghana? So why would a Nigerian want to do with a Ghanaian treasury bond?

This F00L deserves no further response. You won't get the attention you crave.

unite4real:


Rates going south now because na we dey rush CBN. By the time budget is passed, na CBN go dey rush us and rates will look north once more. Happy days are ahead. We all should not be faint hearted. If we were there at 10%, no shaking now, we will weather the storm.

When you should say we are in a storm is when there are higher rates. Folks here gotta understand something: lower rates means we are doing well economically. I love my country and that is why I wish rates would even go down to 2%. Praying for a better Nigeria; rates please go down more!!!!!!

Na so the thing pain you reach? Sh1thead dog barking like the MUMU ape that he is. suffering n smiling,huh?

234ng44uk:


This F00L deserves no further response. You won't get the attention you crave.

Nnamz:


When you should say we are in a storm is when there are higher rates. Folks here gotta understand something: lower rates means we are doing well economically. I love my country and that is why I wish rates would even go down to 2%. Praying for a better Nigeria; rates please go down more!!!!!!

I can see you don't really care about making much profit, you're only concerned about a sound economy for the country. That tells a lot about your financial worth Mr Good Guy.

Who is the fool here? You, a citizen of the Federal Republic of Fools Fuckeduppedness ;

234ng44uk:


This F00L deserves no further response. You won't get the attention you crave.

Please this is about treasury bills thread, even international investors do come to nigeria to buy tb in nigeria and same applicable to other countries. its all about investment and making money.

Lets stop derailing this thread please.....show love and not hate..

Nnamz:


When you should say we are in a storm is when there are higher rates. Folks here gotta understand something: lower rates means we are doing well economically. I love my country and that is why I wish rates would even go down to 2%. Praying for a better Nigeria; rates please go down more!!!!!!

zamirikpo go vex with you o. I used to share the same sentiment with you on the improved economy when the rates go south, but what do Nigerians stand to gain? Prices of goods and services are still the same while the rates are going down. Naira appreciates a bit today but what are we benefiting from it?

Just received an email from my account officer that the GTB 364 days primary auction bid was not successful.

234ng44uk:


I can see you don't really care about making much profit, you're only concerned about a sound economy for the country. That tells a lot about your financial worth Mr Good Guy.

I am on the same page with you.

bisiswag:
U guyz pls lets all be civil here and not derail dz awesome thread.

Neways todays stanbic rates,sec markt
48days - 9.6%
237days-12.4%
342days-12.15%

how can 237days have a higher ROI than 342days. I better keep my money. I smell foul play.

234ng44uk:


I can see you don't really care about making much profit, you're only concerned about a sound economy for the country. That tells a lot about your financial worth Mr Good Guy.

are you serious? So the economy should be bad because yi6u want to make money? where would the profit be spent? is it not that same poor economy that you want. Oga, go and diversify and dont allow your parochial interests hurt the common good.

Agbaletu:

zamirikpo go vex with you o. I used to share the same sentiment with you on the improved economy when the rates go south, but what do Nigerians stand to gain? Prices of goods and services are still the same while the rates are going down. Naira appreciates a bit today but what are we benefiting from it?

Exactly my point , the economy is waxing stronger statistically but less or no effect on the citizens life. Once the price of things go up in Nigeria, hardly will it come down . Check the period TB was 15% n now 12, does the price of things differ? If things don't measure up the way it should, i pray for a favourable high interest.

igbizen:

how can 237days have a higher ROI than 342days. I better keep my money. I smell foul play.

Was thinking same thing...loll

Can someone please explain?

Nnamz:


When you should say we are in a storm is when there are higher rates. Folks here gotta understand something: lower rates means we are doing well economically. I love my country and that is why I wish rates would even go down to 2%. Praying for a better Nigeria; rates please go down more!!!!!!

False! Lower rates means there are more demand than supply. It has nothing to do with the current state of the economy.

afroxyz:


are you serious? So the economy should be bad because yi6u want to make money? where would the profit be spent? is it not that same poor economy that you want. Oga, go and diversify and dont allow your parochial interests hurt the common good.

Again you're wrong. People make money both ways, in good or bad economy. What doesn't make sense however is when rate of inflation is double digit and you think you're being patriotic by investing at single digit. Preach patriotism to me when inflation rate is single digit. I'm very sure you have no tangible investment, only broke asses talk the way you do.

234ng44uk:


False! Lower rates means there are more demand than supply. It has nothing to do with the current state of the economy.

Again you're wrong. People make money both ways, in good or bad economy. What doesn't make sense however is when rate of inflation is double digit and you think you're being patriotic by investing at single digit. Preach patriotism to me when inflation rate is single digit. I'm very sure you have no tangible investment, only broke asses talk the way you do.

more demand mean foriegn investors have confidence in the Nigeria economy the money na from aboard

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Is it really worth it for someone outside of Nigeria to invest in T-Bill considering the Foreign exchange risk?

Nnamz:


When you should say we are in a storm is when there are higher rates. Folks here gotta understand something: lower rates means we are doing well economically. I love my country and that is why I wish rates would even go down to 2%. Praying for a better Nigeria; rates please go down more!!!!!!

Maybe not as low as 2% though.
How about we weigh the pros and cons of having low rates on T-bills:

pros:
1. Lower debt service cost to the FG. Implying a lesser debt burden.
2. Lower finance cost to the CBN (OMO sales) implying more profits.
3. Lower amount of new cash created. CBN sold about 17 trn in OMO sales last year at an average YIELD of about 15%. That alone created 2.5 trillion of new money in the system. lower yields would imply lower amount created and then lower tendencies for high inflation.

4. Increased lending to the real sector, stimulating real sector growth and creating jobs. More ventures having access to finance also mean more industry competition. This has a positive effect on price stability and healthy inflation levels.

5-10: I RAN OUT, SO GUYS ADD YOURS!

CONS.
1. FPIs and banks are no longer much attracted. This makes
it harder to achieve exchange rate stability, especially given the current fundamentals of the economy most notably our high import dependence and low oil prices.

2. Lower or negative real returns to money manager and pension funds. This puts the survival of such industries at risk. Most pension funds in the country are heavily dependent of juicy interest earnings. same with those of us who get a substantial portion of our earnings as interest income.

3-10: ADD PLEASE!

so my biased opinion is that rates should stay at the 15% levels. 18% was desperate! But objectively, If reserves can climb up to $100bn dollars-enough to cover say 30months of imports, I'd say 8-12% is perfect.

234ng44uk:


I can see you don't really care about making much profit, you're only concerned about a sound economy for the country. That tells a lot about your financial worth Mr Good Guy.

Having a comfortable "financial worth" is what implies he won't be desperate for unhealthy profits.

igbizen:

how can 237days have a higher ROI than 342days. I better keep my money. I smell foul play.

Imagine buying 364 day bills on December 11 2018 at 14.8%, and buying another 364 day bills at the last auction of March 11 at 12.8%.

If you choose to resell on Monday at a 0.5% spread, what do you think your offers would be like?

The December bills would be something like:

266 day at 14.3%

while the recent one would be:
360 days at 12.3%

so, in all kinds of trading, what you buy determines what you'd be willing to sell.

There isn't any foul play at all sir!

I bought 364days treasury bill in primary market with Zenith bank in the last auction, I am yet to know if they were successful or not. No debit, no info on the transaction if successful or not. Please, did anyone in same situation or have experienced such situation with Zenith before and what could be the problem. Advice needed, thanks.

Akin3891:




Exactly my point , the economy is waxing stronger statistically but less or no effect on the citizens life. Once the price of things go up in Nigeria, hardly will it come down . Check the period TB was 15% n now 12, does the price of things differ? If things don't measure up the way it should, i pray for a favourable high interest.

Sir,

I think of one the broad ways some of the current economic metrics may affect people is price stability.

if someone earned 100k monthly in 2017, and now in 2019 it still hasn't increased from that 100k. Then he may want to rush to the conclusion that he hasn't benefitted from sound economy. Now, food and groceries probably took 40-60% of such a person's income back in 2017.
in my assessment, Items like Rice, Garri, Vegetable oil, and tomato paste are actually cheaper now than they were in 2017. And for most others, cereals, beverages, gasoline, cooking gas, the prices have mostly been stable.

Other things like household appliances and phones are also a bit cheaper now.

So the overall impact should be that there's either a slight reduction in his living expenses or there have other expenses that he's been able to accommodate.

Also if you imagine the level of layoffs we have now, it's not as bad as it was then.

Now, given our import dependence, if the dollar was still at 520 or worse, went to as high as say 700. Most of these price moderations couldn't have been. Perhaps a 1kg can of Milo would now retail for #2,500.

So I'm not saying there's been very big impact on the average "Joe", but I'm saying, there's been a little bit of impact.

234ng44uk:


False! Lower rates means there are more demand than supply. It has nothing to do with the current state of the economy.

Again you're wrong. People make money both ways, in good or bad economy. What doesn't make sense however is when rate of inflation is double digit and you think you're being patriotic by investing at single digit. Preach patriotism to me when inflation rate is single digit. I'm very sure you have no tangible investment, only broke asses talk the way you do.

Bros, there's no need for the insults now. We're a nice bunch here, and it's only healthy to sometimes have diverse views.

please apologize, or I'll....



apologize on your behalf.

awesomeJ:

Having a comfortable "financial worth" is what implies he won't be desperate for unhealthy profits.

I laugh in Chinese. The more money you have, the more greedy you become. By greed I don't mean investment recklessness, just a tendency to want to make more money. You'll always have the next target, and the next, and another next. I'm yet to see anyone with good financial worth crying that he's making too much profit.

234ng44uk:


I laugh in Chinese. The more money you have, the more greedy you become. By greed I don't mean investment recklessness, just a tendency to want to make more money. You'll always have the next target, and the next, and another next. I'm yet to see anyone with good financial worth crying that he's making too much profit.

You are right about never been contented when one is
making money. You will always want to make more regardless of the state of the economy.
An Igbo proverb says "No one goes to the oracle to find out why he is doing well in life"