freeman67:


First of all, I am not the author of the attached schedule. It's the DMO who is incharge and that's the actual payment date.

Secondly, that some people chose not to do their work when and how they should do it doesn't not make it correct.

Thirdly, saying the payment is usually between 20-23 is not correct because apart from the first coupon which I didnt collect early because there was a mistake on my account and it did not deliver, this is the the only one I am getting this late. At most, I have get it on the 19th of Dec. Yet, that does not negate the fact that the official payment date is 16th June or Dec except that date false on weekend or public holiday. I just don't want to litter here with proofs. If not I would posted all the alert from June 2021 till date for you to see that you are not correct or that your bank takes time to credit you. Your usual delays for upto 20-23 is not from CSCS.

teejay5:
Pls wen Is d the next treasurybill bidding coming up?

ZEAK:
@awesomej, could you please explain more on FCY debt instruments and how it works. Again, you made mention of investing in precious metals, I"d be grateful if you can throw more light on it too.

awesomeJ:

One gram of gold was doing around 20k 4 years ago, today, it's around 100k. Some people are probably eyeing to sell their wedding rings sef 😁😁

But not all foreign currencies are worthwhile o. Don't go and buy Zig or CFA o, that's not why we came to Lagos 😁😁, that's not why we followed night bus.

ZEAK:
Thanks for your swift response on the FCY debt instruments.

Again, Do you know any Federal Government accredited Precious Metal Vendors or Corporate Institutions that sells real precious metals?

RayRay06677:
Good morning good people, please let the masters help ascertain the strength of fidelity bank.

How advisable for one to grab their shares?

Thanks

RayRay06677:
Good morning good people, please let the masters help ascertain the strength of fidelity bank.

How advisable for one to grab their shares?

Thanks

Wotowotoman:


After all these years, no be you suppose to dey advise newbies on how to go about these things? Oga, na wa for you o…

Wotowotoman:


After all these years, no be you suppose to dey advise newbies on how to go about these things? Oga, na wa for you o…

RayRay06677:


This my friend sef, I have said it many times that the only shares I have is MTN, I dont do shares, reason being i dont indulge in things I dont understand except I am outrightly gambling which I dont wish to do with shares.

So you can help if you even know anything about shares.

awesomeJ:


It depends on why you want to buy.
The bank's books look healthy:
PE is just about 2.5x (Q1 '24 annualized, avg price of N10)
gross earnings and net earnings are both up about + 100% yoy
PBV is 0.69x
Total assets are nearly $5bn,
shareholder's funds at about N467bn,
I do not have the NPL figures but I expect it's under 7%

However, I should add that while these numbers are cool, there are banks with even cooler numbers. some with PEs as low as 0.3x, and PBV of like 0.25x.


The risk of license revocation is almost non existent for FIDELITYBK as the bank isn't in distress., maybe highest, they may sack the bank's management if anything(like MD and CBN director are dragging land ).

When Skye Bank went under, the terrifying numbers had been showing in their books for years prior.
Heritage Bank isn't publicly traded, so their books weren't as open, But anyone who know the history from OmegaBank to SpringBank to Enterprise Bank to Heritage Bank should have said "That's not why I came to Lagos "
There's still another bank that has been operating without any money of their own (negative shareholder's funds- they are deep in debt) for years now, the mystery of why that banks keeps surviving regulatory hammer is only understood by nigerian poiliticians.

RayRay06677:


Thanks bro but I ended up confused. Thanks again.

omakay:
Abeg, help me with time deposit rates for GTBank. Preferably 1 month.... Thanks

RayRay06677:
FGN2038

Streetinvestor2:
The banks are not sending some individual bids through them so that you can buy secondary market from them.And I have told them I will not buy any secondary market. The difference between the primary offer and secondary offer by bank is big income to the banks.
If you don't get me primary market. I move my cash to another bank or into something else.I can't be your mugu

Emzedz:
Good morning great investors.. When is the next auction date for Tbills.

awesomeJ:


It depends on why you want to buy.
The bank's books look healthy:
PE is just about 2.5x (Q1 '24 annualized, avg price of N10)
gross earnings and net earnings are both up about + 100% yoy
PBV is 0.69x
Total assets are nearly $5bn,
shareholder's funds at about N467bn,
I do not have the NPL figures but I expect it's under 7%

However, I should add that while these numbers are cool, there are banks with even cooler numbers. some with PEs as low as 0.3x, and PBV of like 0.25x.


The risk of license revocation is almost non existent for FIDELITYBK as the bank isn't in distress., maybe highest, they may sack the bank's management if anything(like MD and CBN director are dragging land ).

When Skye Bank went under, the terrifying numbers had been showing in their books for years prior.
Heritage Bank isn't publicly traded, so their books weren't as open, But anyone who know the history from OmegaBank to SpringBank to Enterprise Bank to Heritage Bank should have said "That's not why I came to Lagos "
There's still another bank that has been operating without any money of their own (negative shareholder's funds- they are deep in debt) for years now, the mystery of why that banks keeps surviving regulatory hammer is only understood by nigerian poiliticians.

awesomeJ:


The risk certainly exists, but it's not a risk of whether they will pay the 10m you invest for instance, they certainly will, they don't need to look for money to pay, they don't even need to expend any ink or paper to print physical notes, the computer program that will credit you is running already. It's just waiting for Date.Now() to equal your maturity date, then it updates your balance in the database while the CBN people might have even forgotten they borrowed any money.

The risk now is whether when that 10m comes, it will be worth something.
If instead of buying a car two years ago with 10m, I decided to buy 2-year savings bond, the entire coupons and capital from that investment cannot cover 70% of th cost of buying that same model today.

That's the real risk, but it's not peculiar to Tbills investors, it affects everyone who earns in the local currency. That's why you see people who aren't even Tbills investors dey vex pass T-bills investors, cos their money has lost so much value that they need 750k to buy just one ram.


It's why pension contributors are sort of being short changed, they celebrate 15% CAGR on a currency that does like -30% annually.

The point to take here is no one should hold more than 50% of their assets in instruments that have no potential for capital appreciation, if they're serious about building wealth.

Stocks, real estate, precious metals(gold and the likes), FCY debt instruments, etc should get in the mix cos they have the potential for capital appreciation and thus are great hedging instruments.

RayRay06677:
Good morning good people, please let the masters help ascertain the strength of fidelity bank.

How advisable for one to grab their shares?

Thanks

omakay:
Abeg, help me with time deposit rates for GTBank. Preferably 1 month.... Thanks

IYGEAL:
Has anyone's CSCS account been credited for FGN Savings Bond for June 12 2024 or is my broker not doing their work this time?

freeman67:


I think FGN Savings Bond was to be paid on the 16 June 2024 ( The actual payment date) but wasn't because that 16th June was a weekend and at the same time a public holiday (Sallah). 17th and 18th were also public holidays. So it was paid on the 19th June. I got my last coupon and principal at about 9:50 PM on 19th June.

So I suggest you check your account first to be sure it wasn't paid to you. If it's not there.

Then send a mail to your broker and copy CSCS. Hope you saw all the previous coupons without issues. If yes then the problem is from them but then, they will still shift the blame as usual.

IYGEAL:


Thanks for your response.

I'm actually talking about subscription for the month of June 2024, not coupon payment of old subscribed ones.

I subscribed on 3rd June. Subscription ended 12th June 2024 but I'm yet to see it reflect on my CSCS account, which is strange. I usually see it a few days after the end of subscription.