₦airaland Forum

1kinggy:
Your TB is a short term instrument. They will share in your profit.

What will be new?

Definitely nothing, we are paying already so new law has no new hold on us.


Gurus can explain further,

VeeVeeMyLuv:
Please will the new tax laws affect our Treasury bill investments?

Because you know our TBills investments are in the million millions if not running in billions, as you know they are targeting funds that drops in accounts. I heard they are also planning to activate 10% VAT on every transaction that takes place on our ATM cards.

We run a risk of the government tax people, regulators and banksters being unable to distinguish between investments and income!

New tax law has no effect on treasury bill. Nothing new.
If it does please someone should help explain, thanks

Oyetunde49:
Please have you recieved your payment? Still waiting for mine.

I got paid before mid day on the said Monday, 29th.

Check well, your case can't be different

Oyetunde49:
My TB investment is mature today . Can I expect payment today been public holiday or I have to wait till the next working day ?

Hopefully, Monday 29th being the next working day. I wish you good luck. We share same fate.

Na my Christmas money be dat.

Did they pay 21st maturity for 2038 bond?

Shalom428:
Today's Auction Result - 10th December, 2025

Thanks boss

Today's rate?

thebaft:
Is there another primary auction this week?

Yes, 10th

Today's rate

First bank finally join WHT crew. It's over.

Odunharry:
I can't post somethings because of anti spam will ban. I saw access rate some months when they were mobilizing funds for fd and the rate isn't that bad. But to get as high as 20 with commercial bank, funds has to be around 200m above it depends...

Ren..money fixed deposit is slightly higher still depends on volume

Thanks boss

Odunharry:
MFB/Fintech give that also atimes, slightly above that all depends on volume and tenure.

I know a commercial bank that can do that but the volume will be huge

Please attach figures to this comments.

How much and which bank?

Kindly drop their possible rates, thanks

Educationalserv:
You didn't escape they waiting at Maturity

This is from UBA, I was referring to first bank. First bank is not indulging.

It's wrong to charge posthumously.

Capital is sacrosanct and should never be touched. Not investors fault that the bank wasn't properly advised by their legal team.

Dear CUSTOMER,



We wish to inform you of a recent publication released by the Federal Inland Revenue Service (FIRS) in relation to investment in short-term securities issued by the Federal Government of Nigeria. The publication sought to educate investors, discount houses, stockbrokers, Corporate Bond Issuers and holders, and the general public of the need to collaborate with the Government to ensure compliance with the tax implications of the investment in securities. Please see attached notice.



The communique covered the following bases:



The reference to the legislation/law that imposes withholding tax (WHT) deduction on the holders of the short-term securities
Application of WHT deduction from interest income earned by both corporate and Individual investor categories
The duty to deduct and remit the taxes to the relevant tax authorities
The tax credit that accrues to the investor whose interest income has been subjected to tax deduction
The exemption of WHT on FG Bonds and OMO bills issued by the Central Bank of Nigeria (CBN) and
The express definition of “ Short-Term Securities” to cover Government Bonds, Treasury Bills, Promissory Notes, Corporate Bonds, Financial papers & Bills of Exchange etc.


Implications :



On the strength of the above, United Bank of Africa (UBA) PLC will be ensuring 100% adherence with this directive. The applicable WHT rate is 10% of the interest (discount) at maturity and the amount so withheld will be remitted to the relevant tax authority as and when due.



We are working with our support teams to ensure that this and other relevant details are embedded in the offer letters to be issued to investors in the nearest future and we will continue to keep you informed of any further regulatory updates that may affect your investments.



With Love,💖

UBA

Risingcash94:
WHT may be deducted at maturity.

The certificate stated amount at maturity. That's a contract, anything short will get us to court.

As at yesterday, only charges remains VAT, custody fee and transaction fee.

From first bank.

heavenisreal18:
You seem not to get the whole gist,they just started this compulsory WHT of a thing,wait till your investment matured or go to your bank about it. They just started it

I have maturities almost every 2 week in Sept and October and even today, I reinvest all and have never seen wht on any.

First bank is the best.

Take that decision today, enjoy wht free investment.

Timmi:
The requirement became effective September 2025. If First Bank is not, just wait, it's a matter of time. It is not a bank's decision to make, it is a requirement of FIRS

I invest almost every 2 week since September, it's wht free. Till when they start but now, no wht.

I repeat, first bank doesn't charge WHT on tbills.

Come enjoy the party while it last.

Timmi:
The bank/investment house will deduct 10% as WHT on INTEREST ONLY.

First bank never dedicts as such individuals are free from that, if your bank still deducts then join me at first bank. Enjoy a WHT-free treasury bill investment.

peleson1:
Pls what is the least amount of one wants to invest in Treasury Bill and how much is the interest rate a month ?

Say I invest 1m naira , how much is the interest a month ?

Central bank puts minimum investment at 50m but individual banks have brought that down to as. Low as 100k in most banks. They do the crowd funding and hit above the 50m then invest on your behalf.

On the crowd funding style, you lose your write to set the rate, you go with the bank rate.

But if you have above 50m, you can bid and with your own rate. Take note, bids can be successful or failed. Best to go with bank rates.

On rates, Tbills rates are per annum and never monthly. And rates fluctuate.

Bidding is done every other week. Every 2 weeks.

For one million at 15%, you will get 150k minus charges.

I wish you good luck, I started small some years ago, you can do it.

sirrotex:
I pay and I invest with Fidelity

Let's assume that as we are confused here on weather the exemption for individuals is real, so is the legal teams of the banks.

No need to argue, I invest with first bank and I have checked all my cerficates and seen that first bank doesn't charge WHT.

At this point, it's a matter of choice, stick to your bank and pay wht or port to my bank and rather use that free 10% for charity.

Timmi:
Individuals are not exempt from WHT on interest earned only. Go and read the FIRS release again.

Are you an investor?
Which bank do you use?
Are you paying WHT?

I don't pay, I invest with first bank.

Treasury bills (T-bills) in Nigeria are now subject to taxation following the expiration of a previous tax exemption order. The interest earned is subject to a 10% withholding tax (WHT) for corporate entities, while individuals are exempt from this tax, although corporate income tax may still apply.



Please note that individuals are tax free on Tbills.

First bank doesn't charge WHT

Odunharry:
Lol.. you don't want to commend the current administration for it initiative so far ? Yes Dollar lost value this year but give kudos biko

It's Trump's inaction and not tinubu's action

skydiver01:
All join. Naira is worth more than it was 12 months ago (N1650:$1 to currently N1442:$1).
Our Naira is buying more Dollars and our Dollar is buying less Naira. Herein, also lies the beauty of diversification

The discredit goes to Trump and not credit to tinubu.

Dollar falls, naira is static which is a good thing.

skydiver01:
Meanwhile, FGN bond prices have been going up (reducing yields) while the Naira has also been slowly appreciating

Is naira appreciating or dollar is depreciating

Earlier today, I deleted my previous post about the Dangote Refinery because I spoke directly with one of the staff, and now I know exactly what is happening. What I heard broke my heart and made me angry at the same time.

The truth is this: the company says they don’t bother if staff join any union, and PENGASSAN only returned after staff registered. But when the company realized that over 95% of its workers had joined, instead of addressing the issues, they shockingly released a statement firing all Nigerian staff. Imagine that! Generalizing and throwing out hardworking Nigerians who built this refinery with their sweat and blood.

Do you know what these workers have been through? For years, they endured extreme hardship working in temperatures of over 1000° and with dangerous nitrogen gas. Many lost their lives. Yet their monthly salaries are shamefully small. Meanwhile, Indians in the same refinery, with little experience (often taught by Nigerians themselves), earn 10 times more. To make matters worse, since 2022, the company has failed to provide even basic safety tools like helmets and boots. Staff are forced to buy their own protective gear with their meager salaries. Even job security is a joke people are fired for something as small as forgetting an ID card. This injustice has been ongoing for over five years.

A refinery like Dangote’s, which is supposed to be a world-class project, should stand out for staff welfare, compensation, bonuses, job security, and a healthy relationship between company and workers. Instead, what we are seeing today is shameful and unacceptable.

This is not only unethical it is inhuman. I strongly urge the management of Dangote Refinery to withdraw their decision of mass firing Nigerian staff, provide every necessary safety need, and increase salaries by at least 200%. The Nigerian government must also intervene immediately to ensure our citizens are treated with dignity, fairness, and 100% representation in their own country.

This is no longer just about Dangote it is about the value of Nigerian lives and the respect we deserve in our own land. - *Ibrahim Yahya Harande*

yemre:
Can you name one developed country where the union has ever held the country by the jugular and sabotage it's economy, claiming a private organization lacks the right to enforce its internal policy!

A company is entitled to make it's own policies and is only accountable to the government. Anything short of that is irrelevant.

You want to work in a company and the company has handed you the handbook containing the rules guiding your conduct at the company.

You know you can not cope with it but you still go ahead and signed just because you need the job, only to wake up one day to say you want to make your own laws and there's nothing the company you work for can do about it!

How many times have NMA interfered in the affairs of private hospitals, or have you ever heard of ASUU in interfering in the internal policies of the private tertiary institutions?

You people should open your eyes wide and refuse allowing hatred box you into a corner. This is a war declared on the Nigerian people and it's economy by these associations if you don't know!



Because you people

Show me that company that acts ultravires in any sane nation.

Any company that disregards the provision of a country's constitution then I will show you where unions hold country by the jugular.

Good beget good, turn it around. Pengassan has done it before and there will do it again.

Tell your small god to respect the Nigerian constitution. He is not bigger than the country.

paxonel:
Look at it this way :

Igbindion university, a private owned university sacks it lecturers and ASUU says it want to embark on nation wide strike. Does that make sense?

Is this the content of our constitution?

If the said lecturers are ASUU members, then it's right. And if such lecturers wants to join ASUU, nobody can stop them because it's their constitutional rights and also if they don't want to join as it is presently, no union can force them to join. It's their right to join or not to join.

Back to dangote, it's workers applied to join and pengassan accepted them. What did pengassan or the workers do wrong.

No matter the amount of money or companies including refineries, no man can be the law for a sovereign nation like Nigeria. Our Constitution remains supreme, it's not about your emotions here but the law.

Pengassan are responsible people and are bent on upholding the wording of our Constitution. Only way out is for dangote to rewrite the constitution or obey the constitution as it is.

Pengassan didn't write the constitution, the law was there before dangote dreamt of a refinery, his feasibility studies captured them as a good business man. He shouldn't shift the goal post in the middle of the game. He is not alone in the oil sector, bigger players are playing by the rules.

Olaide1295:
Yes, unions can exist.
1. It can be another union, not NUPENG
2. Don’t employers have the right to not employ any worker who joins NUPENG (they don’t need to say they are firing for this)

NUPENG to me seems like a fraudulent union only interested in its dues and protecting its own interests. In fact, I hate unions cos they don’t serve the public interest, only the interests of their members.

It's the law again, why do you think the other university lecturers union created to cripple ASUU is unheard of.

The law doesn't permit 2 union of the same profession to co-exist.

Everybody for Don break away na.

The law allows one union at a time.

It's the law, so if you are not Nupeng, u r not in a union if you are driving truck.

Las las, when you face victimization, you will run to union and it might be too late.

Do you think we that are in the union enjoy paying dues every month, we know the benefits of union.

Imagine waking up one morning and your employers says no more work, that doesn't happen where you have a union.

How many times have the govt tried intimidating lecturers from dismissal to no work no pay yet the union stand up to it, it wouldn't have been easy for individual lecturers to fight their cases.

Imagine someone like wike, he will wake up one morning and sack all staff of the federal capital as his estate but he dares not as the unions will kick back.

Who no go, no know.


THE UNIONS MAKES US STRONGER.

TheBizGenius:
It is not by force for anyone to join unions but the lazy workers will forever want long term job security for when their skill level will no longer be the standard anymore in 15yrs time.

My suggestions as solutions to this quagmire?

1. Outsource to a 3rd party operator.
The workers still join unions but they work as independent contractors in the outsourcing company. And everyone knows, as contractors, you can be hired and "fired", based on the project demands.

Unfortunately, Dan Tata and Aliko are ego-driven and still want total control over the system, even at their ages. Pastors of mega-churches also do the same anyway. It's an African thing. Kudos to them.


2. Incentivize
Let the non-union members have an exclusive union in-house called "The productive ones" and let them get a share of the returns they generate.

This worked in an American steel factory I read about over 20yrs ago. The workers chased away the unions when they came.

Aliko might feel this will be capitulating to the whims of his staffs rather than an opportunity to foster a sense of camaraderie.

As one who probably sees his staffs as people he is helping (all African men see their staff that way, even if they struggle to fight it), this may be a difficult route to take. His choice though.

CASUALIZATION of the work force is against the law.