Treasury Bills In Nigeria - Investment (1489)

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Fixed Deposits Or Treasury Bills, Which Is Better? / Fixed Deposit And Treasury Bill Investments From Abroad / I Need Information On Treasury Bills In Nigeria (2) (3) (4)

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Re: Treasury Bills In Nigeria by Grupo(m): 7:11pm On Aug 18, 2020

pizapato:

I wanted withdraw some dollar (which came in as cash deposit) from my account today but most of what they had is lower denominations. So I had to transfer some to the Aboki's account using local transfer. He exchanged for me at 470. I still have some cash at hand that I'm still holding on to to see the direction the rates are going

Also 0.5% charge has been introduced for transfer. This was not in there the last time I did transfer in May

Hope you know that 0.5% is half of the money you withdrew?

Which bank is that?

Re: Treasury Bills In Nigeria by TransAtlanticEx(m): 7:22pm On Aug 18, 2020

Grupo:

Hope you know that 0.5% is half of the money you withdrew?

Which bank is that?

This your maths sha... grin

15 Likes

Re: Treasury Bills In Nigeria by Nobody: 7:28pm On Aug 18, 2020

TransAtlanticEx:

This your maths sha...

Re: Treasury Bills In Nigeria by Grupo(m): 7:33pm On Aug 18, 2020

TransAtlanticEx:

This your maths sha...

I'm genuinely curious right now. He said he was charged 0.5% transfer charge.

Say he wanted to withdraw $1,000, it means he paid $500 in transfer charges? Right? Or I should go back to secondary school?

Re: Treasury Bills In Nigeria by talk2tonie: 7:38pm On Aug 18, 2020

Grupo:

I'm genuinely curious right now. He said he was charged 0.5% transfer charge.

Say he wanted to withdraw $1,000, it means he paid $500 in transfer charges? Right? Or I should go back to secondary school?

0.5% of $1,000 is $5 not $50.

1 Like

Re: Treasury Bills In Nigeria by Cyberknight: 7:42pm On Aug 18, 2020

0.5% is $5.
There's VAT charged on the percentage as well.

Re: Treasury Bills In Nigeria by Grupo(m): 7:42pm On Aug 18, 2020

talk2tonie:

0.5% of $1,000 is $5 not $50.

Oops! My brain don hibernate after the day's stress! grin

Hahaha. Got it now.

2 Likes

Re: Treasury Bills In Nigeria by chigo4u: 7:43pm On Aug 18, 2020

TotoNaRubber:
Hi,
Which bank charged you 0.5% to transfer cash deposit?
Sayvif you had withdrawn lower denominations in cash, there wouldn't be any charge i guess.

All banks always charge 0.5% plus vat for dim transfers unless you have not noticed it and it’s not new. Only first bank charge 0.25%

Re: Treasury Bills In Nigeria by TotoNaRubber: 7:43pm On Aug 18, 2020

Haha it would have been 419 if he was charged $500, since it was 0.5% that would be 0.5 ÷ 100 i.e. 0.005 x 1000 = $5 which is still high.

I wonder which bank charges that.

Grupo:

I'm genuinely curious right now. He said he was charged 0.5% transfer charge.

Say he wanted to withdraw $1,000, it means he paid $500 in transfer charges? Right? Or I should go back to secondary school?

1 Like

Re: Treasury Bills In Nigeria by chigo4u: 7:48pm On Aug 18, 2020

TotoNaRubber:
Haha it would have been 419 if he was charged $500, since it was 0.5% that would be 0.5 ÷ 100 i.e. 0.005 x 1000 = $5 which is still high.

I wonder which bank charges that.

The charges are $10 minimum and above. So for less than $2000 transfers it’s $10 plus vat fees while 0.5% applies above plus vat. This charge is fraudulent anyway and needs to be stopped by cbn

1 Like

Re: Treasury Bills In Nigeria by Grupo(m): 7:56pm On Aug 18, 2020

TotoNaRubber:
Haha it would have been 419 if he was charged $500, since it was 0.5% that would be 0.5 ÷ 100 i.e. 0.005 x 1000 = $5 which is still high.

I wonder which bank charges that.

I just got the calculation. My brain was on hibernation earlier.

Re: Treasury Bills In Nigeria by Nobody: 8:49pm On Aug 18, 2020

To my understanding, for those asking for security of investment of their investment in Stock market, Bonds and Treasury Bills Investment. Invest wisely by doing these three things.

1. Determine the amount of money you CAN NOT afford to lose no matter what happens. Invest that amount on Bonds and Treasury Bills. For Treasury Bills, when you get the upfront interest, re-invest it for compound interest.

2. Determine the amount of the savings you CAN afford to lose or risk. Invest that amount on the stock market, make sure you buy stocks with good value and your objective should be long term.

3. Invest in your personal finance know-how (Financial Literacy). Go read up Usiere Uko's "Practical Steps To Financial Freedom and Independence" and Tony Robbin's "Money; Master The Game". Read up ASSET ALLOCATION in these books as many times as you can until you understand it fully.

This number 3 is the most important. Do not do anything if you have not done this.

Also remember the 3ps of your business objective. Plan Price and place.

Stay blessed!

21 Likes 5 Shares

Re: Treasury Bills In Nigeria by ojesymsym: 9:23pm On Aug 18, 2020

Number 1 and 2 are suspect and incorrect if you ask me.

Sholapey:
To my understanding, for those asking for security of investment of their investment in Stock market, Bonds and Treasury Bills Investment. Invest wisely by doing these three things.

1. Determine the amount of money you CAN NOT afford to lose no matter what happens. Invest that amount on Bonds and Treasury Bills. For Treasury Bills, when you get the upfront interest, re-invest it for compound interest.

2. Determine the amount of the savings you CAN afford to lose or risk. Invest that amount on the stock market, make sure you buy stocks with good value and your objective should be long term.

3. Invest in your personal finance know-how (Financial Literacy). Go read up Usiere Uko's "Practical Steps To Financial Freedom and Independence" and Tony Robbin's "Money; Master The Game". Read up ASSET ALLOCATION in these books as many times as you can until you understand it fully.

This number 3 is the most important. Do not do anything if you have not done this.

Also remember the 3ps of your business objective. Plan Price and place.

Stay blessed!

1 Like

Re: Treasury Bills In Nigeria by pizapato(m): 10:01pm On Aug 18, 2020

TotoNaRubber:
Hi,
Which bank charged you 0.5% to transfer cash deposit?
Sayvif you had withdrawn lower denominations in cash, there wouldn't be any charge i guess.

First bank

Withdrawal does not carry any charge if I'm withdrawing from the branch I opened my account.

Whenever I'm withdrawing from a branch that is not the branch I opened my account, there is a charge but very minute

Re: Treasury Bills In Nigeria by pizapato(m): 10:05pm On Aug 18, 2020

TotoNaRubber:
Haha it would have been 419 if he was charged $500, since it was 0.5% that would be 0.5 ÷ 100 i.e. 0.005 x 1000 = $5 which is still high.

I wonder which bank charges that.

This is the right calculation Mr Grupo.

if you are withdrawing cash, no charge in your primary branch. in another branch, there is a small charge, I can't really remember the %

Re: Treasury Bills In Nigeria by Grupo(m): 10:23pm On Aug 18, 2020

pizapato:

This is the right calculation Mr Grupo.

if you are withdrawing cash, no charge in your primary branch. in another branch, there is a small charge, I can't remember really remember the %

Got it.

Last time I withdrew $300 cash, I was charged $0.15.

Re: Treasury Bills In Nigeria by tipzy001: 11:28pm On Aug 18, 2020

DInkMan:

from my own perspective, United capital is better. FBNquest seems exhibiting blatant arrogance

Okay, thank you Sir. I'm on the process of having account with United Capital for the money market fund

Re: Treasury Bills In Nigeria by seggzzy(m): 11:56pm On Aug 18, 2020

Pls house what is the current TB in the country? I stopped following when tb went down to 3% sometimes ago. Which bank offer good rate presently. Thanks

Re: Treasury Bills In Nigeria by jp130(m): 6:15am On Aug 19, 2020

Please is there any links to these books you mentioned?

Sholapey:
To my understanding, for those asking for security of investment of their investment in Stock market, Bonds and Treasury Bills Investment. Invest wisely by doing these three things.

1. Determine the amount of money you CAN NOT afford to lose no matter what happens. Invest that amount on Bonds and Treasury Bills. For Treasury Bills, when you get the upfront interest, re-invest it for compound interest.

2. Determine the amount of the savings you CAN afford to lose or risk. Invest that amount on the stock market, make sure you buy stocks with good value and your objective should be long term.

3. Invest in your personal finance know-how (Financial Literacy). Go read up Usiere Uko's "Practical Steps To Financial Freedom and Independence" and Tony Robbin's "Money; Master The Game". Read up ASSET ALLOCATION in these books as many times as you can until you understand it fully.

This number 3 is the most important. Do not do anything if you have not done this.

Also remember the 3ps of your business objective. Plan Price and place.

Stay blessed!

Re: Treasury Bills In Nigeria by freeman67: 8:05am On Aug 19, 2020

seggzzy:
Pls house what is the current TB in the country? I stopped following when tb went down to 3% sometimes ago. Which bank offer good rate presently. Thanks

It is still where you left it.

1 Like

Re: Treasury Bills In Nigeria by NL1960: 9:59am On Aug 19, 2020

Grupo:

I'm genuinely curious right now. He said he was charged 0.5% transfer charge.

Say he wanted to withdraw $1,000, it means he paid $500 in transfer charges? Right? Or I should go back to secondary school?

No. It will better to go and start from Primary 3.

2 Likes 1 Share

Re: Treasury Bills In Nigeria by Grupo(m): 10:05am On Aug 19, 2020

NL1960:

No. It will better to go and start from Primary 3.

Abeg, help me with money, let me buy chalk and slate.

Re: Treasury Bills In Nigeria by Nobody: 10:15am On Aug 19, 2020

jp130:
Please is there any links to these books you mentioned?

https://drive.google.com/drive/mobile/folders/0B8KHt7Ln1U7jVk9GbjY2NGFDQWs

2 Likes 1 Share

Re: Treasury Bills In Nigeria by Nobody: 10:26am On Aug 19, 2020

What economists say will happen after devaluation.***

First, depreciation (devaluation) of currency increases the volume of exports and reduces the volume of imports, both of which have a favourable effect on the balance of trade, that is, they will lower the trade deficit or increase the trade surplus.

The reality**

Bloomberg) -- Nigeria’s foreign-currency shortage is squeezing the life out of Africa’s biggest economy.
Banks won’t honor card payments, foreign investors can’t get their money out and manufacturers are unable to import vital raw materials as output hurtles toward a second contraction in four years.
Dependent on oil exports for half of its revenue, the Nigerian government’s coffers have emptied after crude prices plunged in the wake of the coronavirus pandemic. There’s little prospect of a respite any time soon: it needs oil prices of $70 per barrel and production of 2 million barrels a day to balance its budget, but prices are hovering around $40 and OPEC curbs have restricted the nation’s output to about 1.4 million barrels a day.
The evaporation of foreign income forced the central bank to halt weekly interbank foreign-currency sales since March. Now the effects of the dollar shortage are seeping through to the economy.
“A lot of the members can’t access the amount of dollars they need from the banks,” said Eke Ubiji, executive secretary of the Nigerian Association of Small and Medium Enterprises. “That is constraining business.”
READ: Bond Investors Stranded in Nigeria Risk Taking 100% Losses
The International Monetary Fund predicts Nigeria’s economy will contract by 5.4% this year, the most in four decades. The latest official job figures put the second-quarter unemployment rate at 27.1%, the highest in a decade. Inflation, meanwhile, accelerated to 12.8% in the year through July, from 12.6% the previous month, as prices of imports including food surged.
Lenders including Guaranty Trust Bank Plc, Nigeria’s biggest by market value, have cut the amount of foreign currency customers can spend on payment cards abroad to $100 a month from $3,000. Rules on what companies do with the dollars they receive have also been changed, said Emeka Mgbeahuru, who runs Tropitec Ltd., an importer of agricultural equipment from Italy and China with distribution links across west and central Africa.
“When you source your own dollars, they won’t let you pay in cash into your account and won’t let you transfer to your suppliers,” Mgbeahuru said by phone from the southeastern commercial hub of Onitsha.
Many banks are following a template they used when they went through a similar contraction in 2016, which was to cut customers’ foreign payments and wait for crude prices to recover before raising the limits.
Central Bank of Nigeria spokesman Isaac Okorafor didn’t respond to a call and messages seeking comment.
“The challenge with dollar liquidity is an industry-wide problem,” said Bridget Oyefeso-Odusami, a spokeswoman of Stanbic IBTC Bank Plc, which cut its customers’ card spending to $500 monthly.
The shortage of foreign currency is forcing some companies to consider closing down, said Ubiji.
“If that happens, it has a ripple effect, which is loss of jobs,” he said. “We wish the situation changes for the better.”

2 Likes 1 Share

Re: Treasury Bills In Nigeria by Philantropists: 12:21pm On Aug 19, 2020

The exchange rates will keep going up for now even when International Airport reopen on August 29, the demand of forex by Nigerians waiting to travel out of Nigeria will go up and this will push the exchange rate up.
We could say the number of Nigerians coming into Nigeria to bring forex too but you can't compare the number of people trying to run away from Nigeria to the number coming in for visit, the ratio is like 1000:1.

I just tried an experiment here in the UK, i used my Nigerian bank card to withdraw Pounds and they charged N630/£. I think it's only the begining of what to come.

Nigsrdumb:

The reality**

Bloomberg) -- Nigeria’s foreign-currency shortage is squeezing the life out of Africa’s biggest economy.
Banks won’t honor card payments, foreign investors can’t get their money out and manufacturers are unable to import vital raw materials as output hurtles toward a second contraction in four years.

5 Likes

Re: Treasury Bills In Nigeria by NL1960: 12:34pm On Aug 19, 2020

Philantropists:

The exchange rates will keep going up for now even when International Airport reopen on August 29, the demand of forex by Nigerians waiting to travel out of Nigeria will go up and this will push the exchange rate up.
We could say the number of Nigerians coming into Nigeria to bring forex too but you can't compare the number of people trying to run away from Nigeria to the number coming in for visit, the ratio is like 1000:1.

I just tried an experiment here in the UK, i used my Nigerian bank card to withdraw Pounds and they charged N630/£. I think it's only the begining of what to come.

When foreign schools open, it will also put a lot of pressure on the exchange rate.

4 Likes

Re: Treasury Bills In Nigeria by Lionhearted: 12:48pm On Aug 19, 2020

Sholapey:
https://drive.google.com/drive/mobile/folders/0B8KHt7Ln1U7jVk9GbjY2NGFDQWs

Not seeing Usiere Uko's there.

Re: Treasury Bills In Nigeria by tolajay: 12:52pm On Aug 19, 2020

https://epdf.pub

abraolas1:
anyone with the link to where one can download free e-books someone shared recently should please quote me

thanks and Good evening

2 Likes

Re: Treasury Bills In Nigeria by Nobody: 2:08pm On Aug 19, 2020

Lionhearted:

Not seeing Usiere Uko's there.

Check on Amazon

1 Like

Re: Treasury Bills In Nigeria by abraolas1: 2:34pm On Aug 19, 2020

tolajay:
https://epdf.pub

Thanks Boss

1 Like

Re: Treasury Bills In Nigeria by tolajay: 3:55pm On Aug 19, 2020

Show us the way nau!

I presume you're a netizen. What Forex earning venture would you advise?

TotoNaRubber:
It is very possible, the economy is getting worse, the US is floooding international market with cheap oil and Nigeria revenue from oil is dwindling.

Anyway bad for some but more profit for some like me, at N550/$, i would have made N1.7m profit on $10k and multiples of more millions still cooling off.

This devaluation will hurt importation, local foods will become more desirable. Time to start buying locally.

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