In similar situation, no placeholder was available for him to upload medicals so we did not do for him but we paid all visa fees. But I am thinking we should not have paid too but was included in the fee calculation thrown up for payment. Hopefully it will be refunded.

Ehiobe:
Hello people,
I am about to apply for the EE. We are a family of four 2kids and 2adults. My son was born in Canada. Does he need to still do medicals since he is already a citizen and do I need to still pay the application fee for him. I am guessing I do not have to but someone was arguing that I do hence my confusion.

Hello house, please do you usually ask the bank's bid rate when you turn in your application and then compare the upfront interest you receive when the bank's bid go through? I always ask and I ask Stanbic in this last bid and they said they are bidding 18.5% for 364days which was still below the cbn marginal rate. So why is Stanbic crediting 18.48%? Are they making a spread on investor's capital??

Please lets take this up with our respective branches and lets compare the explanations from them.

NL1960:


About 18.48%.

Hi TONY56,

I totally understand, I am also not a novice in this game but only pass on comments once in a while. I play this TB game and really hard.

To do the compounded interest game based in my own scenario is to have 1M + other fees/commissions in your account while you put compounded face value of 1.216M on your application form, by so doing after the debit, no fund will remain idle in your account. The benefit of this is for investor who does not want the upfront interest to remain in the account after the bid and strategically you already invest the upfront interest before you earn it.

The scenario you gave is different and will work if you have extra fund to match the face value on the form which you won't be using till after the bid cycle.

My explained scenario will make a lot of sense when you look at high investment, example of 20m. At 18%, that's 3.6 meaning with your scenario you need to have 23.6 in your account. With my own scenario, you need to have only N20M plus the fees in your account but the 23.6 on the form. To do this with your scenario, you will need to also have the 3.6 in your account.

My scenario is what I have always done with GTB before like I mentioned in another post. I hope I make some sense.

TONY56:



It's like you don't really understand what many of us have been explaining about how to compound your interest with Stanbic.

What we have been explaining is that Stanbic does not allow compounding of interest but you can do your simple arithmetic of what you want yourself and be sure that you have up to the face value of what you will get at the end of your tenor in your account so that when you will be debited, it will only be the discounted amount.

A good example is that of someone who wants to compound his interests on investment of 1,000,000 with the assumption of 18%. After doing his own calculations on compounding, he arrives at N1,220,000 to be collected at the end of the tenor. So, at Stanbic what he needs to do is to leave at least N1,220,000 face value in his account and write same amount on his form for the investment instead of N1,000,000 but when he is to be debited, Stanbic will debit ONLY N1,000,000 and at the end of 364days, he will be credited with N1,220,000 instead of N1,000,000.

I hope this explains it all to you?.

Hi, sure you do this with Stanbic? which branch please? I was at Ogba branch yesterday but they did not allow it because they insisted that the amount in my account must match the face value written on the TB application. Please let me know the branch where this is possible.

TONY56:



������
You just nailed it.
That's how I do it with Stanbic cause they don't do compounding interest at all and it's not in their form.
All you need to achieve this is to be able to do some simple Arithmetic

Dears,

I am not sure STANbicIBTC will allow you to state a Face value that is more than the fund you have in your account. Some months back this is the way I always bid with GTB because I do not always need the interest sitting in my account and also do not have time filling new forms over and over for reinvestment and also because of my preference for PM which occurs only every two weeks. But GT does not allow that again.

I have moved to Stanbic but they also did not allow that principle even though they will only debit your account with the discounted amount. Because as you are dropping your application they are matching the face value on your form with the amount in your account which must not be less than that face value. The explanation is that prior to bidding, they debit their own internal books the total face value amount on your form thus if you do not have that amount in your account, there will be issue with the accounting "DR & CR thing".

However, I personally love that principle of compounded interest bidding. if anyone still succeeds with this in any bank, please let me know.

tunene66:


Then do the computation yourself and instruct what to debit. For instance if you have =N=1M and the rates is about 18% for 364days. you can ask that indicate willingness to buy =N=1,215,000 (FACE VALUE) Treasury bills of 364days tenor at 18%

Don't just go near those people, something fraudulent is happening there.

Kimsunh:
yes and I can bet with you that you can't get that juicy rate with primary market. Last one I did with Gtb was 17.3.

In my own opinion and not to get rejected for flimsy reason, I will suggest that you request ECA that carries names as on your certificate

IykeD:


You mean I can use the ECA which has my middle name with my degree certificate which doesn't have and there will be no issue?

Yes, I saved it. My friend got a message from his Bank regarding the transaction and they asked him to decline or authorize and he authorized it and saw the debit in his account. So I don't know why the status still went back to continue application and no payment receipt received.

Abby2017:
When you got the transaction declined message, did you save the page?
The transaction declined receipt contains some details which includes reference number, the amount you attempted paying and decline error message. This detail is what your friend should tender in his bank on your behalf. My payment was declined at first attempt and I saved these details(as the page suggested) incase I am debited later. "Processing payment" which later changed to "Continue application" implies your payment have not gone through and I don't think it has anything to do with weekend, receipt is system generated.
Its a tough one though, because you have strict deadline and you can't even lodge the payment complaint by yourself.
If you have alternative means, proceed to pay through it and deal with this error later. You can let people that have used Bank of America card weigh in...
All the best!

My Peeps in the house, good day to you all. Please I have a dilemma here and will like your comments especially from anyone who has experienced same or similar.

I submitted and paid for my application yesterday morning using my friends Bank Of America card. I got a transaction decline message while application page got stuck on ''payment processing''. The Bank sent a message to my friend to authorize which he did and he has seen the amount debited in his account. However, my status changed to ''continue application'' again and still same as I write now meaning application is not submitted yet.

Should it still be so?, I thought the status should have changed, probably to application submitted and payment received while I get the payment receipt. The main challenge is that I have as at now just 2days remaining to the submission deadline. Is the submission not happening or payment not reflecting because it is a weekend?? What can I do to solve this before the 2days deadline??

Blingyrie:

Your payment hasn't gone through, u need to call the card's bank for authorization of d payment

Please check some details from the attached. I think the Issue rating is good which seems to be a level of confidence building for investors.

https://www.fmdqotc.com/wp-content/uploads/2016/12/Project-Deep_Programme-Memorandum_20160908_vFINALClean.pdf

Thanks for sharing, I am just wondering how healthy access bank could be.
Do you have a reason as to why they need to raise such amount? Is this a periodical event for them or first of its kind? [/quote]

Hello, I have heard about the Access bank commercial paper where they are trying to raise N100b. The rates are somewhat interesting. Please see short details below:

Issuer Access Bank plc (Access Bank)
Size Up to ₦37 billion
Tenor 90, 180 and 270 days
Discount Rate 90 days – 18.75%
180 days – 19.00%
270 days – 19.20%
Effective Yield 90 days – 19.66%
180 days – 20.96%
270 days – 22.38%
Issuer Rating “A+’’ Long-Term (GCR) / “A+” (Agusto & Co)
Minimum Subscription ₦5million and multiples of ₦1,000 thereafter
Tax Considerations Free and clear of withholding taxes
Offer Opens 25 May, 2017
Offer Closes 31 May, 2017
Circulate the Allocation Notice to investors 1 June, 2017
Investors fund their commitments 2 June, 2017

Do we have an expert in house that can help us understand more on the CP and if its better to invest in it than Tbills considering all elements including risks. This tranche seems to be rounding up but very high probability that they will sell in another round.

Dears,

This new TB system is like a money making venture for the banks from what i had from GTB for bidders with less than 50.1mio going with the bank rate. GT told me that they will be bidding 18% for 364days this week and that if the auction closed at 18.5% for example, the spread of 0.5% belongs to GTB. I don't understand this, please can the house share if this is the same thing done by other banks? If no, i want to PORT immediately now to a bank that will not reap me off this way after they would have charged all their fees for the transaction. PLS THIS IS URGENT!!!

feelamong:


The rates are confirmed. My bankers just sent the stop rates to me now!

Tell them that 364 days stop rate is 18.50%

If they doubt you tell them you will complain to CBN /DMO.....That way all the tricks would end!

Apparently there is a problem but seems they want to be smart about it at my own detriment by telling me the bid was unsuccessful and going ahead with the sec bid which i really did not instruct. The issue was that they placed the bid wrongly by stating 18.4 for 182days instead of 364days. I have written them of escalation to GT mgt, cbn/dmo. I am thinking of how they will manage this cos the amount involved is a bit high. I told them they have to invest in TB effective today according to my instruction.

bumba1234:
Rates
180days- 17.50
365days - 18.50

Hi House,

Can you please reconfirm these rates especially the 365days. I have checked everywhere online but could not get the stop rates. I placed a bid of 18.4 for 365days at GTB and my Acct Mgr just called me now that it was not successful and offering me something from the secondary market. Is the CBN STOP rate really 18.5?

But they cannot continue with this 3yrs leadtime. I guess the processing time will change with the automation of the application process.

Nogen:


3 years for Nigerians is certainly a long time.

Their TB portal closes at 5pm on Tuesdays preceeding bidding so your application must be there earlier.

Danfuster:


welcome to my world... I figured it's just a scheme to keep your money idle while they profit off it.

I'm tired of their fuckery

Now its filled up and site is closed!

Tiwalope:



wowow

This thing is like an impossible task. I was able to log in 8mins before start time of 8.30, upon transfer into the virtual room i met about 150k ppl on queue. Cant understand how thats possible when site was under maintenance till the 8.30.

dupyshoo:
Please, who has been able to submit his/her application for Quebec PNP? It seems there are over 300k in the queue currently?

Hi feelamong, i also sent you a PM pls.

Tritri:
@Feelamong Just shoot you an email.
Thanks

You apply for the country session you want to go for on their site. You should get a thank you mail stating also your application ID number. Then send them an email requesting to attend the session, you do this because you are not a citizen of that country and not resident there so u need their approval. Send your current CV, your NOC, copy of your ECA and your IELTS scores. You should get a response which is an invitation to attend like 1-2wks to the session date. Due to the large turnout, they start to specify required job areas now so your NOC should be on their list.

If you check and fill their EOI form, you must score a minimum score to be eligible for ITA. You go to the session with your filled EOI, ECA, IELTS for you and spouse if you will claim point for spouse. You will be interviewed for few minutes on basic things and if okay, you get the ITA.

Nievel:
Hello walexo78 please can you shed more light on this NB info session. How does one get invitation to attend?
Also what is their top criteria for issuing ITA, is it your points or if you have the skills they need in their province? It seems to me like once you attend you have a very good chance of getting ITA. Kindly explain pls. Thank you.

Yes

molly14:
Good day house. Please about the Mon Quebec is it possible to fill the application down and then submit when it opens onthe 16th . I just opened d pdf guidleline document and found out its about 185 pages. Will 10mins be enuf to fill out the required information?

General

OGIYEN:
Which of the ielts test is considered for this purpose, academic or general training?.

You can demand for your investment letter from the bank. I get mine for every TB investment. Its as good as a certificate.

tormjerry:

Thanks

GT Bank.

Your upfront interest is what you have earned by not keeping the face value of the investment in your account. But upon maturity you will get the face value credited to your account.

manie:



Have you ever tried this before? Where do you buy your Treasury Bills.

You can play the game, i have always sone this. But you need to speculate the stop rate right. If the stop rate goes beyond your speculation and the amount in your account ia not enough to cover the discounted value then you lose it.

Chukzyfcb:
I have a question to ask, feelamong your input will be highly appreciated. my questions goes thus

Say for example I want to invest 10,000naira and the discounted rate is 10%. I know fully well that the bank will debit 9000 and leave 1000 as the upfront interest right? Well, what if I had ONLY 9000 in my account but in my t.bills form I wrote a bid of 10,000naira knowing fully well it's just 9000 that will actuallu be debited, do you think the bid will be successful. Because I am thinking of playing a fast move that may pay off nicely.

Incase you still don't get my questions: lemme make a story
Say Mr chuks walks to the bank to invest in t.bills and on his form he wrote that he will like to invest with the sum of 110,000 naira at a discount rate of 10%. He knows if his bid is successful the government will just debit 100,000 and pay him 10,000 upfront interest. But the thing is mr chuks has just the exact 100,000naira that will be deducted, nothing more nothing less. So Will his bid be successful, yes or no?

Advice is needed.

Follow the process by sending the email. However at the Dubai session lsst month, the thank you email and the permission to attend email were eventually not checked there. People who have no emails and their names not on the list brought by the NBPNP team were allowed to write their names and participated with some getting ITA. Maybe it happened that way because of the crowd. This is just to let you know how it happened there. Goodluck

Amazing01:


No. Didnt send an email. Only applied online and got the "thank you for registering" email which contained Venue of the event. Will do as you have said. Thank you very much

When i responded to your text that i have bought severally through ecobank, you should know am not Ghanaian, I filled the form myself but went with the bank rate. However the form had field for indicating stop rate.

Jessglam:

Are you Ghanaian?
Do you bid for yourself?

I have bought several times from ecobank. Its not their business of who you are. Just collect the form, fill and submit. If any issue, escalate to their manager. They want to force you in FD vs 25% rate of TB.

Jessglam:
I have a work permit and a bank account also. I used stanbic IBTC Bank in ghana.

With my own little knowledge, i think the death certificate from same NPC should suffice since it will show the name of your late uncle and possibly his parents. You could then put detail in your LOE (letter of explanation). Add any other thing that can prove the relationship. My opinion, goodluck.

Eclipse24:


Thanks Aduke02. Yes i did draw up a family tree and can write up a little narration to follow it. I'm just concerned because the application was returned requesting for an NPC attestation of birth for both our fathers (yes i and my cousin bear same surname) showing their parents. NPC is unable to provide this because my uncle is late. So now a re-application has to come with a document proving this tie. Do you know anyone in the same circumstance that pulled through it?

Thanks again for the advice.

Do you have a bank account? Do you have a valid residence permit? Its not true that foreigners cannot buy TB in Ghana.

Jessglam:
Gurus in the house, please advise. I tried to do tbills in gh a a Nigerian but I was told they do not sell to foreigners. I wa advise to do fixed deposit instead at 14.24 for three months. Meanwhile I figured 91day tbills in nig I 15percent plus. Do you advise I transfer the money back to home and get the tbills?

Please @feelamong assist me with this.

Dear All, based on Presiade's comment that means GT fall among lists of banks where you can bid with your own rate.

presiade:


I specified my minimum rate for them.

presiade:

14.9%
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Rotiix:

14.18, just got debited

Guys, why are we getting different rates for same 91days tenor at GT. Thought everyone goes with bank rate at GT?