Cargoed: Please is there a 30day auction and can i rollover, i am expecting 30day auction to be at least 3.5% is this so

The lowest duration is 91 days at a current maximum rate of 9.2% per year which is equivalent to 2.22% in 91 days. You will get up to 2.22% of your money back immediately when you buy the 91 day tbills. If you buy the 182 day tbills, that's up to 9.449% per year 4.618% in 182 days. If you buy the 182 day tbills, you will get up to 4.618% of your money back immediately. The rate on 364 day tbills is 9.998%, so you will get up to that same percentage back immediately if you buy the 364 day tbill. That's how I understand it. Hope this helps.

Seun:
The lowest duration is 91 days at a current maximum rate of 9.2% per year which is equivalent to 2.22% in 91 days. You will get up to 2.22% of your money back immediately when you buy the 91 day tbills. If you buy the 182 day tbills, that's up to 9.449% per year 4.618% in 182 days. If you buy the 182 day tbills, you will get up to 4.618% of your money back immediately. The rate on 364 day tbills is 9.998%, so you will get up to that same percentage back immediately if you buy the 364 day tbill. That's how I understand it. How this helps.

I think that is incredibly slow for a private investor, with low capital say less than 1mil. i need a vehicle that can give me my money back + the interest after 30days. So that i can re-invest it.

Cargoed:

I think that is incredibly slow for a private investor, with low capital say less than 1mil. i need a vehicle that can give me my money back + the interest after 30days. So that i can re-invest it.

Not being rude but if you cant tie your money down for 90 days then you are far from being an investor. You are more like a gambler.

Please people in the know let us know the rates at the end of todays auction.

Regards

pappilo:

Not being rude but if you cant tie your money down for 90 days then you are far from being an investor. You are more like a gambler.

Please people in the know let us know the rates at the end of todays auction.

Regards

See Papillo now, do you know what rollover means. I want to roll my money over every 30days for like 10yrs. Is the money not tied down Papillo go and find out about compounding then we can talk...you way dey chop your interest every 90days how can you compare to me way dey rollover for 10yrs. So if you don't understand something stop being rude.

Cargoed:

See Papillo now, do you know what rollover means. I want to roll my money over every 30days for like 10yrs. Is the money not tied down Papillo go and find out about compounding then we can talk...you way dey chop your interest every 90days how can you compare to me way dey rollover for 10yrs. So if you don't understand something stop being rude.

Why can't you roll it over every 91 days?

Seun:
Why can't you roll it over every 91 days?

The rates are too low for monies less than 1 mil.

Imagine you put in 400k for 3 months (91 days) and @ the end all the interest you can get is less than 10k...

Think about it.

STOP RATES FOR TODAY 21/03/2012

91 DAYS --------10.45%

182 DAYS--------10.65%

364 DAYS ----------10.76%

Seems things are gradually looking up over here once again!! 'Thank' God for the problems in Cyprus!!

feelamong: STOP RATES FOR TODAY 21/03/2012

91 DAYS --------10.45%

182 DAYS--------10.65%

364 DAYS ----------10.76%

Seems things are gradually looking up over here once again!! 'Thank' God for the problems in Cyprus!!

Good news. We are back in business.

feelamong: STOP RATES FOR TODAY 21/03/2012

91 DAYS --------10.45%

182 DAYS--------10.65%

364 DAYS ----------10.76%

Seems things are gradually looking up over here once again!! 'Thank' God for the problems in Cyprus!!

Wow! Dis looks good....let's see how the next rates will be

moshoodn:
The rates are too low for monies less than 1 mil.

Imagine you put in 400k for 3 months (91 days) and @ the end all the interest you can get is less than 10k...

moshoodn:
The rates are too low for monies less than 1 mil.

Imagine you put in 400k for 3 months (91 days) and @ the end all the interest you can get is less than 10k...

Think about it.

Thankyou moshoodn thats the pain am talking about, but i guess due to the almost risk free situation it is well priced.
@Seun Lets talk about doing it for 90days what will be the return if i say use 400k but instead of putting it all in i do it every month for the next 90days. but in the process every month i adding my personal N6k what will be my return after 10yrs and what will be my interest at month 87?

Lets use a fixed interest of 7.5%

So 400k/3= 133k
133k + 6k for the next 90days = Jan - March Inv A Month 3
133k + 6k for the next 90days = Feb - April Inv B Month 4
133k + 6k for the next 90dyas = March - May Inv c Month 5
Inv A (Including Interest) + 6k for the next 90days = April - June Inv D month 6
Inv B (Including Interest) + 6k for the next 90days = May - July Inv e month 7
Inv C (Including Interest) + 6k for the next 90days = June - August Inv f Month 8

PLEASE ANYONE HELP DO THE MATHS what will be my return after 10yrs and what will be my interest at month 87?

@Feelamong, Seun and others

what happens when auction dates fall on public holdays like May 1, May 29 and June 12. Does the auction take place the day before/after or it doesnt happen for another 2 weeks?

Regards

Bondholders who do not want to hold the bonds until maturity date can sell them at any time on the floors of Nigerian Stock Exchange or Over the Counter (OTC), through, any of the PDMMs.

Seun:
Why can't you roll it over every 91 days?

Please find below, details of Wednesday 27/03/2013 T/Bills auction

91 DAYS --------11%P.A


182 DAYS -------11.15%P.A


Hope Rising!!

feelamong: Please find below, details of Wednesday 27/03/2013 T/Bills auction

91 DAYS --------11%P.A


182 DAYS -------11.15%P.A


Hope Rising!!

@ Mr Feelamong

You no even answer my question about auction days that fall on public holidays. You are probably to busy. No be small thing to make money

Anyway why was there an auction yesterday 27 March when there was one last Wednesday 20 March? I thought the auctions only happened bi-monthly

Anyway why was there an auction yesterday 27 March when there was one last Wednesday 20 March? I thought the auctions only happened bi-monthly

I'm equally confused, but I think they may have shifted the auctions forward because of the holidays.

pappilo:

@ Mr Feelamong

You no even answer my question about auction days that fall on public holidays. You are probably to busy. No be small thing to make money

Anyway why was there an auction yesterday 27 March when there was one last Wednesday 20 March? I thought the auctions only happened bi-monthly

My bankers sent this to me this morning! am equally confused as you are all are! I understand it was in the CBN Treasury Bill issue programme for this qtr!

Infact i am looking at the CBN website now!!

oh no. i missed out cos i was not aware. so when is the next auction date.

feelamong: My bankers sent this to me this morning! am equally confused as you are all are! I understand it was in the CBN Treasury Bill issue programme for this qtr! Infact i am looking at the CBN website now!!

Did you find the CBN Treasury Bill issue programme?

Seun:
Did you find the CBN Treasury Bill issue programme?

I also Searched the CBN website but couldn't find a diary or schedule of planned auctions.

Seun/Feelamong

How much do the banks charge for helping a customer buy T Bills?

[quote
author=Cargoed]

I think that is incredibly slow for a private investor, with low capital
say less than 1mil. i need a vehicle that can give me my money back +
the interest after 30days. So that i can re-invest it.[/quote]

I bought the 90 day Tbill as at 05 march at an interest rate of 9% per annum

Desanta: oh no. i missed out cos i was not aware. so when is the next auction date.

You can apply thru your bank and they will help you to buy at the next aution if ur bid is successful. You may not neccessarily hav to know the next bidding date.

vexing:

You can apply thru your bank and they will help you to buy at the next aution if ur bid is successful. You may not neccessarily hav to know the next bidding date.

Fbn always ask me to submit my application form and funds, the Tuesday before the auction. So you see, I need to have an idea of the auction date.

Desanta:

Fbn always ask me to submit my application form and funds, the Tuesday before the auction. So you see, I need to have an idea of the auction date.

Simply leave a standing instruction with your bank to cover any bid date. Do this through your ACCOUNT OFFICER at the bank. If you don't have one yet, request for one immediately. He/she will be your contact who will arrange for your TBs bid anytime there's one. However, make sure you ALWAYS have enough funds in your account for the transaction.

Say, if I invest 100k in tbills for a year, what would my interest be like?

mymadam:

Simply leave a standing instruction with your bank to cover any bid date. Do this through your ACCOUNT OFFICER at the bank. If you don't have one yet, request for one immediately. He/she will be your contact who will arrange for your TBs bid anytime there's one. However, make sure you ALWAYS have enough funds in your account for the transaction.

Ok, Thanks. I will try your suggestion.

Seun/Feelamong

How much do the banks charge for helping a customer buy T Bills?

The bank will charge you 0.125% of the yield.

Seun:
Did you find the CBN Treasury Bill issue programme?

what i saw was the Tbills programme for the last qtr! really annoying that CBN cannot even update its website with very simple info!

pappilo:

I also Searched the CBN website but couldn't find a diary or schedule of planned auctions.

Seun/Feelamong

How much do the banks charge for helping a customer buy T Bills?

banks and discount houses charge 0.125%.. so for N1m you pay a charge of N1,250=

feelamong: banks and discount houses charge 0.125%.. so for N1m you pay a charge of N1,250=

You also pay a COT of 0.5% at the end of the month. So the total cost is 0.625%, out of the 2.N% you get on 90 day tbills.

I Dont get to pay any COT!

I use an Investment banking outfit of the bank and the money is basically in my investment account where i either use to buy stocks or Tbills...

feelamong: I Dont get to pay any COT!

I use an Investment banking outfit of the bank and the money is basically in my investment account where i either use to buy stocks or Tbills...

Please tell us more about this! Which bank and what's the name of their investment arm?