₦airaland Forum

chukzyfcbb:
don't be faster then your shadow bro,lol
you will need to find out the workings of your bank before trying to outsmart them. As with first bank, the moment you submit your bid request, the money will be debited from your account immediately. if the bid was successful, you get your interest paid upfront.
in this case, if you applied this approach with first bank by placing a bid of 1m when u have just 825k in your account, I am sorry to say it would be declined.
However not all banks debit you immediately you submit your request, which is what you should find out from your bank.
I asked this same question a long time ago because I wanted to outsmart them,lol.
so dnt be faster than your shadow

I specifically said this works with GTB.
I do not understand First Bank's rationale for withdrawing the whole amount at first then paying back the upfront interest after the bid.
What do you mean by outsmart, you made it sound like some dubious operation. It isn't.

Houstency:
It was raised earlier in this thread but someone tried it out in one bank and it didn't work out that way. But that would've been the best way anyways. You could also try it and let us know about your findings.

It works.
At least with GTB its acceptable as long as you give leg room for funds to cover all expenses.
In the example, I gave extra 5k for charges, you can as well leave like 20-50k, assuming instead of 18%, they went a bit lower.
So you will still have funds to cover same.
It was easier when you gave your own rate but with the new policy, you cannot but play safer.
But, it works.

Houstency:
When you invest in NTB, permit me to assume so you understand better not the real deal..
Let's say you invest 1m for 18% for a 364 days tenure, 18% of 1m gives 180k pry school maths lol, your upfront Interest which is the said 180k is left in your account as your interest (upfront since it's paid at the beginning of your 364 days tenor).. but what is taken from your account is 1m - 180k = 720k, 720k is taken from your account and your interest has been paid already. At the expiration of your 364 days tenor, your account would be credited back with the 1m you originally invested.
In all, you've got #1,180,000 but remember you already got your interest of #180k at the beginning of the investment.

You could use the power of compound interest in your favour by re-investing your profit of 180k. If you bid through first bank there is a column were you could specify if you want your interest to be reinvested or you wait for two weeks for the next auction. Hope this help

N.B: I didn't​ take note of commission fee, safe keeping fee, transfer fee and others for this explanation.
If you ain't cleared refer to the beginning pages of this thread. Regards

What if you bid higher than the amount in your account, isn't that better than reinvesting the upfront interest.
Eg. I have 825k, I can decide to bid for 1M because at 18% that 180k interest add transactions costs too, they will just deduct that amount or thereabouts.
On maturity, you get credited 1M.

munezo:
Stanbic is still game, Stanbic is bae

Its like porting to IBTC "sure pass"
In Saka's voice.. I don port ooo

NL1960:
With this new rule by DMO, you cannot rule out manipulation from the Banks if you do not have 50m. The Banks will want to use this new rule to make money. Do not forget that the Banks are really not happy that individuals are investing in NTB because it robs them of some great profit that they make using Demand Deposits (DD) money and Term Deposit money of customers. Moreover, NTB are not taxable. So Banks that are heavily invested in NTBs make a huge profit which is not taxable in their year end result. Check out the profit of the likes of GTB and Zenith and the dividend paid and the tax paid on the profit.

So, if DMO is trying to reduce this by that policy, the option is whether to take what rate the bank offers you or take DMO rate or take Term Deposit rate. That is why i asked if you will prefer the 13.01% FGNSB to the 18% or whatever is offered by the Bank. As for me, iam ready to take a Bank rate that is higher than FGNSB rate of 13.01. In addition, i do not think i want to even tie down my funds for 2 years.

True.
Well said.
The small investors are at the mercy of the banks(shylocks)..

NL1960:
Would you rather then do the FG Savings Bonds of 2 years at 13.01%?.

Where was it suggested in the part you highlighted that FGNSB at 13.01% is preferred.
I was only pointing out that it is strange they went to the same rate twice when they could obviously had gone higher. Could it be internal manipulation to sell their own rate in the guise of primary bid?
Can you contemplate an answer to this?

feelamong:
Treasury Bills Stop rates for 15th March 2017

91 days ----13.6%

182 days -----17.2%

364 days-------18.558%



How many people got rates close to this from their bankers

I gathered that GTB rate was 18% same as they did two weeks ago.
I wonder if they have an auto-robot that does it for them. 18% against 18.558% CBN rate is quite low, unless they are profiting from selling low rates to their customers who went with their bank rate.

Let us see what other banks like IBTC and FirstBank got for theirs.

Keneking:
After the visit, recession would deflate the cheek

You are a wikid sombori

ukay2:
Just got a call from Stanbic ibtc bank that CBN refused to bid for individual investors with less than 50 millions in the Primary market....so individual investors less than 50M should shop for secondary markets.

PLEASE OGA FEELAMONG and other guys...,.who knows the result of the primary auction of yesterday and the secondary markets rates for today.....I want to bid for secondary markets today before bank go barb my hair. ......,

Thanks..

I thought they already knew this but wanted a work-around by pulling customers' fund and bidding on their behalf.
If not, why did they have to waste peoples' time and energy in the first place.

These banks sef.

yak:
is this annualised or for the entire life time of the investment? datz 2years

Yes, it is per year multiplied by the number of years just like the normal FG Bond.

Paramount01:
Please how much will I get if Invest 100k

Thirteen thousand and ten naira (13,010) per year, so for two years, you will get 26,020 naira plus your principal which is 100K.
You will get Naira3252.5kobo each quarter. Payout is quarterly.

Willie2015:
How can they give 13.01% in this economy ? At least they should give us at least MPR -14% min if they intend to shut us folks out of the TBills.

It,s not fair ..

You are not shut out of TBills, you can still bid for this weeks auction as follows:
Less than 50Mil use bank rate
Greater than 50Mil use personal rate or bank rate.

unite4real:
2 year savings bond has just been announced. its just 13%. not attractive to me. you can see that we have technically been shut out.

Inflation is 18%, MPC at 14%. What am i doing with 13%. Mtcheeeeew.

https://dmo.gov.ng/fgn-bonds/savings-bond/1981-fgn-savings-bond-offer-for-subscription/file

Pls can you share the link where you got the 13% rate for FGN Savings Bond.

The pix share up there said 16% indicative rate.
One may have to wait a bit to see how things pan out though.

In other news, normal primary auction will still go on as usual, but can anyone confirm if we can still put in personal bid rates?
Happy investing week, guys(and ladies)

feelamong:
I was posting so fast on the Bitcoin thread that the system Admin mistook me for a robot...

Will be worth it to have a look at it bitcoin thread that earned you a ban, oga.

Nne5:
Is tonto dike not Igbo?

No, she is Riverine.. Lol

Good.
Rubbish.. Is she not Igbo herself?

dagr8:
https://www.nairaland.com/3652660/cbn-mop-up-n310bn-through

CBN To Mop Up N310bn Through Treasury Bills this week

Gurus in the house, what rates are we looking at for favorable bids this week.
It seems the banks have dried up their funds and channel same towards the forex markets.
Does it mean, we will get higher rates this week, as per lower demands?

feelamong, ukay2, Alikote, ogas

Ubenedictus:
Abeg tell me the protestant church around before 1517

You need to understand that there is a great difference between the Holy Apostolic Orthodox Church and the Roman Catholic Church.
The later was a fallout of the East West Schism and divisions between authorities in Constantinople and Rome in 1054 AD.
While the former traces its origin from the apostles. It was more of a battle of supremacy between the bisjop of Rome or pope as he was later called and the patriarch of Constantinople.

zedman1:
in summary, I simply asked you to open your mind but all you spewed was surrounded by hate. Free your mind and learn. Thank you

Whollop whollop you guys, no need for mud slings and insults, most of these things are in public domain, none was done in a corner.
Lets look at history of the early church from the Apostolic Era to the schism or divisions that gave rise to the different churches now. The early church had the apostles establishing Christian communities as they go about on their missionary work.
There was nothing like Roman Catholic Church or Anglican or Methodist at that time.
See below for some bit of insight.

The original church or community of the East before the schisms comprised:

the Greek communities founded by Saint Paul
the Antiochian, Asia Minor churches founded by Saint Peter
the Coptic (or Egyptian) churches founded by Saint Mark (including the Ethiopian of Africa or Abyssinia). Remember st Philip and the Ethiopian Eunuch.
the Syrian (or Assyrian), along with the Byzantine, Georgian and Russian churches traditionally founded by Saint Andrew
the Armenian church, as well as the churches of Samaria and Judea traditionally founded by Saint Jude and Saint Bartholomew
the church of Jerusalem founded by Saint James.
The church of Rome by tradition was founded by both Saint Peter and Saint Paul.

So you see these pentarchy or Sees as they were called were established almost in parallel as the church Orthodox organization evolved.
Nothing like St Peter being the first pope and all that. Actually st Paul and st Paul both help to set up the churches in Antioch and then Rome, so they shared the Patriarchy in those domains.
We can look at how the Roman Catholic Church can into being that was after the 1054 AD Ecumenical council.

The encounter between prophet Elijah and the prophets of Baal comes to mind...

Osahon7:
6M from it Sir!

6M in four months.
Oga Osahon7, show us the way o..

When he finishes inspecting that bridge he should go over and also inspect the third mainland bridge, I heard his boys scrapped portions of it and let it in tatters.
Let him also inspect high tension poles inside the lagoon.
Mr not rocket science.

See them.. Evil men.. They never condemn the killing of shiites, southern Kaduna people and IPOB protesters. You habour evil in your heart but think God can be mocked..
Bloody ragheads and their warped thinking.... Smh..

Thelmerh:
hope u know it's an emergency repair because of d on going work bn done at abuja airport and its bn done because the high nd mighty travelling to abujaust have to pass to Kaduna and den transported by road to abuja. anyways thank God dey are repairing it and pls tell him about abuja-lokoja-okene-auchi-ekpoma-benin road too

Don't mind the goons calling best minister.. We always like to celebrate mediocrity in this country..
Look at, ordinary to resurface less than a kilometer on the third mainland bridge. Its taking them months.. Darkness everywhere.. Mtcheew..

buchilino:
BROS, BELIEVE ME NOT ALL UBER DRIVERS MAKE DAT AMOUNT ON A WEEKLY BASIS.

Tell him jare..
What about cost of fuelling the car, paying toll fees, 20% uber commission plus car maintenance cost incidental. Add all that and watch that amount reduce to half or less.

sunnyt1:
im going with 19% for 365 days

That is too wide afar, unless you know something we don't currently know.

K

PUSH1:
Who do you think is allah in the holy bible? Is there any different with what is written in the holy bible.

allah is not and cannot be found in the Holy Bible, except you mean baal..

jnrbayano:
You are confused.

Muslems are descendants of Abraham through Ishmael.

No?

Laff haff tia my belle o.
Wise man are you abi?
So jewish muslims and persian or iraqi or even Chinese and Pakistani ones plus hausa and fulani herdsmen all follow you for Ishmelites. Lol.. ignorance on rampage. No wonder they hate education.. Booku is indeed haram to them.
Chai..
Nonsense and injiridenti

abbey621:
There is a quote I like to refer everyone to when believing that one religion is greater than the other but before I do that, we all agree on two things:

1. God is powerful and omnipotent

2. There is only one True God

If the above sentences are true then let's deeply think about the quote:

"If God wanted us all to worship him the same way, wouldn't it have been easy for him to make it so?"


God is mysterious, truly indeed!

God never made any religion, He created man to fellowship with him and have dominion over the elements not to kill and abuse one another for the sake of religion claiming that they are worship God.
Can you tell me the true meaning of worship, Do you think its going to church wveryday or knocking head on the ground five times a day, chanting poems in the guise of prayer.
God is love. Love your neighbor as yourself. If you hate your neighbor (God's image) how can you claim that you love talkleas of worshipping God?
Think about it with opwn mind, it was not meant to disparage anybody, just the naked truth, which is an open aound only conscience can heal us all.
Peace and shalom to you.

jnrbayano:
That's how a true Christian behaves

In Trump's voice, WRONG!!!
Even a baby Christian, the ones they call "people of the book", cannot open his/her to say that they worship the same God with monghals, as they are called in India.
Ignorance is worse than a disease.
My people perish for lack of knowledge.
In case you don't know, Yahweh/Jah is not the author of confusion neither is He the architect of of religious duplicity and plurality.
One wirh God is God's ultimate wish for man whom He made in His Image. Murders and killers, and those who shed innocent blood has no place in His kingdom.

Ginaz:
The lady in pink is so pretty and natural and well clothed too. Thank God for his miracles for the couples, may the children be blessed.

God lives. Amen.

You are not bad, yourself.