₦airaland Forum

GODAKPAN:
my banker (first bank) just informed me that he will pull my deal through by 5th of sept. 2017. was actually expecting him to deal yesterday. am away for next 3 weeks. please can someone explain why he failed to transact and choose 5th instead. Thanks, am nervous beacause its my first time.

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GODAKPAN:
Finally i invested 2m for 182 days with first bank. Please, how much am i expecting by Wednesday. Thanks.

Gavrelino123:
You are too modest..... I'm loyal bro......

gogedda:
Dear all, I am vexing now o, I invested in Tbills with Ecobank since July 7th, I was debited and paid upfront interest and it even reflected in my account. But my account officer has refused to help me get my proof of investment. The first time she said the lady who do send the proof in the head office was on leave.. She called me the last time, I missed her call but I knew she wanted to tell me that the proof is ready. I was at the bank the yesterday and I was told my account officer is now on leave, Infact I was told she's attending a church conference.. She only switch on her gone at night and has refused to pick my call sef. I regret investing with Ecobank. They are so unprofessional. I am planing on reporting to the branch manager. Please is it possible for one to report my branch and pick up the proof of investment from the head office... I really need this proof to present at the embassy next month.. Pls what do you think?

dotcomnamename:
Wait oo, i did not have the hard copy o, they only scan copy to me by email because my account is First Diaspora Account, i invested 5 million. Is that a risk not to have hard copy? Although it also shows in my account.

question:
Secondary market.
The problem is that someone has TWO Tbills investment. N3million and N2million.
The N2million is showing as a Tbills investment in your bank account profile online.
But the N3million is not showing anywhere in the account profile. So what is the genuine explanation?

chukzyfcbb:
Oops I dunno bout stanbic ibtc but first bank of Nigeria has that option "Re-invest upfront interest".
If they don't why not seek for extra cash to add to your capital, knowing you can pay back with the upfront interest.
eg I want to Invest 1million at 18% 364days,
I know that 180,000will be paid upfront while 820,000 will be taken away. Now if I can add/borrow 200,000 from a friend/family and Invest 1.2million at same 18%
my upfront ineterst (gross) will be 216,000. With this upfront interest I can payback my friend his money THE NEXT DAY, while I will be expecting 1.2m at the end of the tenor.
so I borrow and payback in less than 48hrs,lol

NB: I forgot to say you can do this diffefently, there was a comment here sometime ago I think by ernie4life.
Not so sure who again but he said
in stanbic ibtc, they don't deduct the whole capital and then payback interest like they do in first bank, instead they just take the actual amount if successful. we had that discussion some months ago.

so I may have 1million naira in my account but write in the form that I want to Invest 1.2million at 18%
because I know that if successful, 984,000 will be deducted from my account. I was surprised to hear this, but he says he does it often at stanbic.

First bank usually takes the WHOLE amount at first which makes it impossible to do

Phyde:
22% for the same 364 days if I re-invest the profit? This sounds interesting...I did not see Re-Invest Interest option on the form i picked from stanbic IBTC. How will i go about it sir?

kycilae:
Pls do you hv idea of banks that operate that way?

Partnerbiz3:
Sorry pls wat reasons for savings acct?

LeeCodeman:
There's still something I'm yet to understand. Must I have N50m before I can invest in the primary market, or are there banks who will allow me invest something as small as 500k through them? I have used Stanbic for my secondary market and they didn't give me my 364 days request, therefore I'm considering opening a FirstBank account if they will give me the maximum days.

Gavrelino123:
Lol.... you are wrong again....you can't get 182 days for 18% with GTBANK..... You can only get 18% and above for 364 days Primary Markets... I'm 100% sure of this....
Even Stanbic and First Bank won't give you 18% for 182days for primary markets bid .....except 364 days...
Secondary Markets can give 18%,but you can't even see 182 days in Secondary market..
Thanks...

unite4real:
You will be scheduled for the next auction in 2 weeks time. Sorry you went late.

Ovie2011:
Would my account be credited back if there is no 364 days tenor?

Ovie2011:
Hello house,
I was in first bank last Monday to apply for treasury bills but I was told that they don't do secondary market there but later told me it can be done but was not successful. Today I got a debit alert for TB 364days and I read that there won't be 364days this week. How come I was debited for 364days. I am confused, is that a mistake from the bank or what?

jom28gy:
Did I asked question for joke?if you don't know you keep quite.

casiello:
Which branch?

redcap:
They actually debited me Less my interest.
I have visited the bank they ask that I return later as they would have to copy a mail to head office and the the documents forwarded to them.thx bro.

emmanuelewumi:
If the Treasury Bill is refinanced, the funds from the refinanced debt ie TB will be used to pay the local investors whenever their TB matures. Rather than Nigerians providing short term funds to FG, this will be done by foreigners and Nigerians who have access to forex.

I foresee a situation whereby yields on TB will reduce, forex may become scarce for local TB or Eurobond investors, thereby affecting the exchange rate.

The government is trying hard to promote the savings bond. The winners as a result of this proposed policy are the banks and Federal Government.

I see a situation whereby many A-list companies will come out for their corporate bonds and commercial papers, qualified state governments may also raise funds through bonds, l also see increase activities and returns from the stock market, hopefully things ought to start looking up in the real estate sectors.

These are my layman's opinions, I hope I am 60% correct with my projections.

redcap:
Thx bro, I was actually debited after some days but I became indisposed. I will visit my branch this morning.

zamirikpo:
Ive been praying hard for the rates to remain high, at least for the next 6months, but with this news on refinancing(which i dont understand),its evident that the game is about to change.

anyone with a clear understanding on the implication of this new development,should pls educate the house. i cant seem to find any useful material about the subject matter online.

if u ask me, they want to transfer the debt profile to foreign investor, yes they would clear off local debts but how would they raise funds to payback foreign debts in future. anyway our fingers are crossed,i hope the national assembly looks into this issue critically before endorsing it.

redcap:
Pls I urgently need answers,I did tbills through fidelity bank last week but yet to be given proof of transaction.Its my first and I have been sick since then hence could not follow up.I need to know which documents I should request for on my next visit to the bank.thx

Cc:TONY56

Toboi:
http://www.thisdaylive.com/index.php/2017/08/10/fg-restructures-debt-profile-to-issue-dollar-backed-treasury-bills/

What does this mean for the T-Bills market? Can someone help explain the intricacies involved.

TONY56:
In a nutshell, the implication is that the present high rates in the Treasury Bills Market will drop as the aim of this move is to bring down inflation and consequently interest rates and cost of funds and the Banks will be happy for this as many MAY go back to FIXED deposits which pays the Banks much more than having their customers opting for Treasury Bills

tolajay:
FG will reduce the volume of TBills and the interest rates. The tenure will also be longer. This is my understanding of the report.

vitality22:
Stanbic secondary market isn't bad either. Today 10-08-17, they had
91days @ 13.42%
182days @ 17.4%
364days @ 18.53%

Investnow2017:
Oga Tony, going by the TBills programme for this 3rd quarter, its like there will be no auction for 364days tenor in the next bid.

Please can you take a look at the schedule posted by a folk here and advice please. If true, i might have to settle for the Secondary market at First Bank away from my branch.

Alikote:
pls will there be 365 days auction next week

walexlo78:
Can you please explain the compounding system of First Bank?

PhilJames:
Please guys reply

awesomeJ:
There surely won't be any 364-day bills on offer at the next auction. The NTB calendar doesn't just show maturing bills. It also shows new issues the CBN intend making for a given quarter-that what's contained in the roll over section. one would expect things like a nations borrowings to be well scheduled right?

Remember before these huge deficits in the nation's budget, 364-day bills used to be on offer just once a month