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Nairaland Forum / Nairaland / General / Investment / Treasury Bills In Nigeria (4619087 Views)
Fixed Deposits Or Treasury Bills, Which Is Better? / Fixed Deposit And Treasury Bill Investments From Abroad / I Need Information On Treasury Bills In Nigeria (2) (3) (4)
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Re: Treasury Bills In Nigeria by ETHIX(m): 3:56am On Oct 22, 2016 |
gory24: Pls there are few charges or Like custodian fee Administrative fee etc 1 Like |
Re: Treasury Bills In Nigeria by kings11ng(m): 5:40am On Oct 22, 2016 |
was finally debited by stanbic and they charged me #199.45 as custodian fee( safekeep) and another #300 as transfer fee. |
Re: Treasury Bills In Nigeria by yemioke: 7:40am On Oct 22, 2016 |
I really appreciate all members in this forum that contributes in one way or the other to enlighten pple here on TB, please i want to know the minimum amount one can invest in TB through First Bank. so that if i get there i will not be a novice to the TB account officer. |
Re: Treasury Bills In Nigeria by inze(m): 9:10am On Oct 22, 2016 |
yemioke: . . . 100k, i believe |
Re: Treasury Bills In Nigeria by LaconicINC: 4:25pm On Oct 22, 2016 |
Gurus in the house I need your help ooo, please how do I collapse my Treasury bills before maturity, what are the processes to follow. Responses highly anticipated. |
Re: Treasury Bills In Nigeria by Ihavespoken: 5:05pm On Oct 22, 2016 |
How much did u invest in it and how long have you held it for? Also what interest rate did you get and which bank sold to you. I can help you find out with these. LaconicINC: |
Re: Treasury Bills In Nigeria by LaconicINC: 7:13pm On Oct 22, 2016 |
Ihavespoken:I invested 200k, interest is 13.7% for 91 days, stanbic, it was in the bid of 19/10/16 thanks |
Re: Treasury Bills In Nigeria by 40manlappy: 7:36pm On Oct 22, 2016 |
LaconicINC: Just write a letter for liquidation of the investment and submit at the branch. It's a very simple and straightforward process. You may attach a copy of the investment certificate if available. Your account officer will then notify you of the applicable discount rate and seek your concurrence for the consummation of the transaction. |
Re: Treasury Bills In Nigeria by LaconicINC: 7:59pm On Oct 22, 2016 |
40manlappy:how long will this process take |
Re: Treasury Bills In Nigeria by 40manlappy: 8:09pm On Oct 22, 2016 |
LaconicINC: I think it all depends on the availability of buyers in the secondary market. The last one I did was consummated within 48 hours while the one before that was about 72 hours or so. To be on the safe side, you can "budget" about a week. |
Re: Treasury Bills In Nigeria by Ihavespoken: 8:17pm On Oct 22, 2016 |
Ok. A person who works there said you are likely to get a discount sale rate of 11% based on the info you provided. You can write to your branch and request this. LaconicINC: |
Re: Treasury Bills In Nigeria by LaconicINC: 8:18pm On Oct 22, 2016 |
40manlappy:about but like how much will I lose |
Re: Treasury Bills In Nigeria by LaconicINC: 8:19pm On Oct 22, 2016 |
Ihavespoken:wow, so I will come out with a profit? Abi it's loss, I just want my 200k intact |
Re: Treasury Bills In Nigeria by Ihavespoken: 8:20pm On Oct 22, 2016 |
It will be a minor loss, your 200K is unlikely to be intact as rates are going up. Think of it, you already had interest paid upfront and still want the 200K while you held the contract for 3days, is it possible in your view? LaconicINC: |
Re: Treasury Bills In Nigeria by 40manlappy: 8:22pm On Oct 22, 2016 |
LaconicINC: We have discussed this question earlier on the link below. Look out for my comment and that of freeman.67. Hope you will find it useful. https://www.nairaland.com/878880/treasury-bills-nigeria/219#49900906 |
Re: Treasury Bills In Nigeria by LaconicINC: 9:12pm On Oct 22, 2016 |
Ihavespoken:I have not touched the interest oo, they can have it, I don't care much about that , just total of my 200k, interest or no interest, I don't mind a minor loss, I need the money for something else right now |
Re: Treasury Bills In Nigeria by LaconicINC: 9:20pm On Oct 22, 2016 |
MrTour:guess we should talk |
Re: Treasury Bills In Nigeria by LaconicINC: 9:20pm On Oct 22, 2016 |
40manlappy:thank you |
Re: Treasury Bills In Nigeria by precious00: 5:50am On Oct 23, 2016 |
Hi all, I have a few questions on treasury bills, especially on the secondary market. *whats the function of the custodian? *what does the bank do when you pre-maturely request to end your treasury bill? *Is there also auction in the secondary market?? *If a bank goes insolvent after uve successful bought Tbills using them, how do you get the value of your treasury bill when it matured 1 Like |
Re: Treasury Bills In Nigeria by freeman67: 10:53am On Oct 23, 2016 |
precious00: All these questions you are asking have been answered here before. You would have taken your time to start going through it from page one. But maybe some of you coming now do not have the strength. So will try to answer some again at least it will help increase the volume of the thread. * In order to separate Money for treasury bill bought by bank customers from their the banks real property /assets CBN instructed they keep it separately with a custodian. you will find the full explanations here: http://nairametrics.com/official-fom-1514-buying-treasury-bills-bonds-will-cost-you-a-fee-and-this-is-who-earns-it/ * When you prematurely request to end your treasury bill the bank will look for buyer in the secondary market and sell it to. But then depending on the percentage at the time you bought and the time you want to sell prematurely and also the percentage the buyer may b willing to buy you may not get up to the interest or end up loosing a little of your capital eg. If you buy when the percentage was as low as 7-8% Per annum you will not want to now and expect the same interest when its about 17-18% now. Selling it will consume part of your accrued interest. * Yes there always is mostly through security houses. * If the bank goes insolvent I believe if you contact the custodian used by the with your particulars and evidence of the investment you will be paid. |
Re: Treasury Bills In Nigeria by MrTour: 11:38am On Oct 23, 2016 |
Hi. I guess you want to sell your TB, contact your Bank first to understand how much you are likely to get then let me know. LaconicINC: |
Re: Treasury Bills In Nigeria by LaconicINC: 12:00pm On Oct 23, 2016 |
MrTour:Ok will let you know by tomorrow by God's grace |
Re: Treasury Bills In Nigeria by dejiotus: 5:50pm On Oct 23, 2016 |
To Ihavespoken and other gurus in the house. Kindly advise on how much to expect roughly, if I decide to liquidate my TB investment. The amount is 10M; the interest was at 17.48% and I have held the investment now for 2 months. The bid was via Zenith bank at the primary market and the money is with Zenith Custodian.I am aware I have to forfeit interest for 10 months, but will there be other charges? And if so, how much? Many thanks |
Re: Treasury Bills In Nigeria by dejiotus: 6:05pm On Oct 23, 2016 |
It is always smart to have some information from learned forumites before someone approaches the bank for negotiations. I am sure most banks may want to make as much for their coy. |
Re: Treasury Bills In Nigeria by seemples(f): 7:09pm On Oct 23, 2016 |
seemples: Please someone should kindly provide the rates of the last auction. |
Re: Treasury Bills In Nigeria by ihedioramma: 7:21pm On Oct 23, 2016 |
kingsilly:That's good . have they pay your profit? |
Re: Treasury Bills In Nigeria by kingsilly(m): 7:50am On Oct 24, 2016 |
ihedioramma:Yep, like immediately |
Re: Treasury Bills In Nigeria by ihedioramma: 8:33am On Oct 24, 2016 |
kingsilly:Sand me e-mail . |
Re: Treasury Bills In Nigeria by kingsilly(m): 8:47am On Oct 24, 2016 |
ihedioramma: sent |
Re: Treasury Bills In Nigeria by LaconicINC: 12:52pm On Oct 24, 2016 |
Please everyone, gurus and all, I need answers, I went to stanbic in Enugu and I was asked to return on Monday next week that it can not be done now, what is the reason for that? They did not give me any further explanation, should I wait till then or ask further questions, responses urgently anticipated, thanks |
Re: Treasury Bills In Nigeria by Mfunkynation(m): 5:05pm On Oct 24, 2016 |
Pls how to calculate interest for 91 days, 182 days n 364 days. Thanks freeman67: |
Re: Treasury Bills In Nigeria by HazzanTazzan(m): 5:32pm On Oct 24, 2016 |
freeman67: please o... all these talk about evidence of investment... fidelity didnt give me any evidence o.. i just got an alert notifying me of the successful bid and the removal of the amount from my account. should i go to the bank for evidence? thanks |
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