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Investment › Re: Treasury Bills In Nigeria by skydiver01: 12:09pm On Sep 19, 2017

Investnow2017:
.........................and let us FEEL AMONG toooo

.

You will find Feelamong here...
https://www.nairaland.com/3657807/bitcoins-all-bitcoins-investment-bitcoin/20#60446364

Investment › Re: Treasury Bills In Nigeria by skydiver01: 4:54am On Sep 19, 2017

Partnerbiz3:
Oga stop basking in empty euphoria. The answer isn't here. I wager you don't know either and wouldn't bother too because of incuriosity. I stated that nobody here knew and wondered why you took it personally and felt emasculated.

Investment › Re: Treasury Bills In Nigeria by skydiver01: 4:30am On Sep 19, 2017*

Partnerbiz3:
Oga stop basking in empty euphoria. The answer isn't here. I wager you don't know either and wouldn't bother too because of incuriosity. I stated that nobody here knew and wondered why you took it personally and felt emasculated.

From my TB liquidation knowledge, I imagine the reason no one has answered is that different banks and discount houses treat TB liquidations differently. Some quote to repurchase your TB using current market discount rates which may eat into your principal (if rates have risen) and others maintain your purchase rate and apply a penalty rate e.g. 1 or 1.5% of the nominal value over the remaining TTM which is applied to the interest you would have earned over the period you actually held it for (not the initial purchase duration) with the balance paid to you. The shorter the period held for the greater the chances that it will eat into your principal and vice-versa. This is the reason, why most people hold to maturity and if not possible, hold for more that 75% of the initial purchase duration. It is only in an emergency that TBs are liquidated or perhaps one wishes to take advantage of some other opportunity that will cover any capital or interest loss.

As many have said, approach the institution you used for the purchase and ask them how they treat TB liquidations and any charges that apply. Also ask specifically what you will receive if you liquidated e.g. today. This will enable you know whether you will receive your principal intact or not. Their response, I imagine will guide your next steps. Perhaps you would be so good as to share your findings with the house.

But to specifically answer your N1m example held for 60 days that was initially bought for 364 days; Since discount rates have not moved much over the last 60 days, I imagine you will only lose as a penalty about 50% of the interest you would have earned over the 60 days. Will give example figures below using a penalty of 1.5%. Hope it helps.

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Investment › Re: Treasury Bills In Nigeria by skydiver01: 4:27am On Sep 19, 2017*

Partnerbiz3:
Calm down. The 5% ish can be anything but the answer, that's if you have the facilities to analyse it.

Investment › Re: Treasury Bills In Nigeria by skydiver01: 10:12am On Aug 14, 2017

Gaddaffi121:
Thanks everyone for the education so far. I have spare cash of 1million naira. I recently approached my bank- stanbic ibtc for TB, The guy at d desk told me to do FD. I insisted on TB. When he saw i knew what i wanted, he angrily told me to come back on wednesday 16/8/2017 that there will be primary market opening that day. As a newbie, when should i arrive the bank? What and what should i ask for and what should i expect? I dont want to sell myself out as a novice on that day. Please hint me sirs. I know u guys have answered similar questions b4. But just refresh it. Thanks

The Secondary market is what is available with N1m thus you can make your purchase any day you want. Primary market bids start at N50.001m.

The guy at your stanbic bank is wasting your time and your funds will be in the account for a little longer with the bank if you wait endlessly for the primary market dates... (which might have been his objective)

Investment › Re: Treasury Bills In Nigeria by skydiver01: 1:12pm On Aug 09, 2017

wellsaid:
@skydiver1: divine help shall always locate whenever u need one IJN. Thank u soo much for this.

You are welcome and Amen.

Investment › Re: Treasury Bills In Nigeria by skydiver01: 7:04am On Aug 08, 2017*

wellsaid:
I have done that, can't just recall what I read about it. Lot of pages with loads of info. Please I just need someone to help by highlighting the points

See below:

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Investment › Re: Treasury Bills In Nigeria by skydiver01: 10:22am On Aug 04, 2017

Fynebouy:
My friend did 6 months and got 17.25% on First Bank. Is this a good rate?

Yes. It is a good rate for 6 months. Not long ago it was also a fantastic rate for 12 months too. :-)

Investment › Re: Treasury Bills In Nigeria by skydiver01: 6:30pm On Jun 18, 2017

Investnow2017:
I keep asking what exactly is special abt Primary Market. In the scheme of things i have my strong preference for the Secondary Market. 17 or 17.3% for a 182 day in the Pry market. Meanwhile i can comfortably get 18.25% for a similar tenor or a tenor close to or a little more than 182 days. And again the concern as to whether one's bill will fly in the first place. At the secondary mrkt you get to know yr tenor and rate immediately!

Could not agree more with the discount rates being offered in the secondary market (compared to the primary market and not knowing if bids will be successful)... I can only suppose the commercial banks e.g. FBN et al offer these rates to keep the deposits from fleeing from their coffers... it does affect their asset liability balances after all...

Investment › Re: Treasury Bills In Nigeria by skydiver01: 5:41am On Jun 16, 2017

14 June 2017 Auction Stop Rates

91 days 13.5%

182 days 17.3%

364 days 18.69%

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Investment › Re: Treasury Bills In Nigeria by skydiver01: 6:20am On Jun 15, 2017

Good morning House,
Does any one know the stop rates at yesterday's primary market auction? Feelamong kindly share pls.
Many thanks.

Investment › Re: Treasury Bills In Nigeria by skydiver01: 3:44pm On Aug 15, 2016

Auction is on 17 Aug, Bids would be compiled by commercial banks today and tomorrow I imagine.

Investment › Re: Treasury Bills In Nigeria by skydiver01: 3:11pm On Aug 15, 2016

feelamong:
Take a look at the Treasury Bills calendar earlier posted...Clearly it shows that Only the 91 days and 182 days Tbills would be on offer by the CBN

Oga Feelamong, the calendar shows N50b 364day new issue is to be offered. New issue not a rollover ,i.e not 364 days maturing on 18 August to be rolled over.. New issue.

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