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Nairaland Forum / Nairaland / General / Investment / Treasury Bills In Nigeria (4619404 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 princeuk21(m): 7:34pm On Jul 26, 2013 |
ibet Ghana is no go area for now |
Re: Treasury Bills In Nigeria by godello: 9:25pm On Jul 26, 2013 |
Pls pals i am still yet to understand this Tbill stuff. Especially the dividing by four aspect. For intance if i invest 1million for 90 days @ 10% i guess my interest will be 100k after 90 days or will the 100k be further devided by 4 thereby giving me 25k after a 90 days investment of 1m at 10%? |
Re: Treasury Bills In Nigeria by godello: 9:26pm On Jul 26, 2013 |
Pls pals i am still yet to understand this Tbill stuff. Especially the dividing by four aspect. For intance if i invest 1million for 90 days @ 10% i guess my interest will be 100k after 90 days or will the 100k be further devided by 4 thereby giving me 25k after a 90 days investment of 1m at 10% ? |
Re: Treasury Bills In Nigeria by Elai147: 10:38pm On Jul 26, 2013 |
godello: Pls pals i am still yet to understand this Tbill stuff. Especially the dividing by four aspect. For intance if i invest 1million for 90 days @ 10% i guess my interest will be 100k after 90 You are correct. It is divided by 4 because the 100k interest is per annum. |
Re: Treasury Bills In Nigeria by sojitek: 11:50pm On Jul 26, 2013 |
Interest rates are quoted on an annual basis; thus 12% or 15% quotes are based on annual period. To get what the period rate will be (R * N/365) R = Quoted Interest Rates; N = Nos of days. 1 Like |
Re: Treasury Bills In Nigeria by coderXO(m): 9:52am On Jul 27, 2013 |
While researching Ghana, I actually came across one article that rated the Ghanaian Cedi as the third worst currency in the world. Very sensible pappilo, to factor in the currency. Now since foreigners are limited to the 3 or 5 year bonds, the risk is real. The longer the term of the bond, the more time the country / govt / currency has to go haywire. This would now make sense for their govt to prevent non-citizens from buying short term bonds. You can imagine some foreign investors or mutual fund managers from Europe / America invest $100 million dollars for 3-6months and scramming with their gains ( 6% / 11%) at maturity. Quick easy cash. I still am contemplating purchasing the discount house product in Ghana that pays 22% per annum (and is short term). Anybody out there have reservations about that? The discount house in question is NTHC Limited. |
Re: Treasury Bills In Nigeria by oyewole123: 2:23pm On Jul 27, 2013 |
feelamong: @ Feelamong could you please recomend 1 or 2 good discount houses ? i will like to use them for my tbills too rather than the banks Thanks |
Re: Treasury Bills In Nigeria by fsb(m): 2:56pm On Jul 27, 2013 |
Glad to have a progressive thread on NL. Seems treasury bills are the way to go in Nigeria as the fixed deposit interest rates are nothing to write home about. With respect to the previous posters' comment, does anyone have information about TBS in Ghana? Update: thanks papilo for the analysis about ghana. |
Re: Treasury Bills In Nigeria by Mpeace(m): 4:15pm On Jul 27, 2013 |
I don't trust stockbrokers and discount houses. Its easy for them to collect your money, but very very hard for them to pay back to you. |
Re: Treasury Bills In Nigeria by fsb(m): 4:42pm On Jul 27, 2013 |
Mpeace : Can you give us your experience? So it's better to get your treasury bills through the banks than discount houses |
Re: Treasury Bills In Nigeria by feelamong(m): 10:13pm On Jul 27, 2013 |
oyewole123:I have used kakawa discount house and I presently use Fidelity Securities ltd.. |
Re: Treasury Bills In Nigeria by oyewole123: 10:50am On Jul 28, 2013 |
feelamong:Thanks |
Re: Treasury Bills In Nigeria by azpekuliar: 2:59pm On Jul 28, 2013 |
feelamong: What's the extra benefit with using a Discount house compared to a Commercial bank. |
Re: Treasury Bills In Nigeria by Elai147: 5:42pm On Jul 28, 2013 |
Mpeace : Discount houses are regulated by the CBN and SEC so I don't think they can disappear with your money. I heard they are owned by financial institutions and insurance companies (don't know how true). However, I buy my T-bills via reliable banks because I no fit shout! Buying through stockbrokers, if possible, is not an option for me. |
Re: Treasury Bills In Nigeria by Mpeace(m): 6:06pm On Jul 28, 2013 |
Elai147:I recently invested in shares through a stockbroking firm in Abuja. On the 6th of june, I placed an order for some of my shares to be sold. They were sold that very day but the firm keep telling me one story or the other each time I request for my money, the latest is that they don't even reply my requests. They just use one's money to run thier business. Prior to this investment, I had a portfolio account with a state government owned stockbroking firm, I had to leave them because it took an average of 2months to recover any sum in my account(proceeds of share sales) |
Re: Treasury Bills In Nigeria by Elai147: 8:48pm On Jul 28, 2013 |
Mpeace : Most of these stockbrokers are thieves. Not even SEC can vouch for their sincerity. Threaten them that you will report them to Security and Exchange Commission (SEC) if they fail to provide your money. I am sure that will scare them and make them return your money asap. |
Re: Treasury Bills In Nigeria by Elai147: 8:57pm On Jul 28, 2013 |
CBN Revokes EDL's Licence over Non-recapitlisation The Central Bank of Nigeria (CBN) Friday announced the revocation of the operating licence of Express Discount Limited over alleged sharp practices and failure to recapitalise. CBN Director, Banking Supervision, Mrs. Tokunbo Martins told journalists in Abuja that the discount house had maintained false and misleading books of account and had huge exposure to margin loans. Read more... http://www.thisdaylive.com/articles/cbn-revokes-edls-licence-over-non-recapitlisation-graft/154603/ |
Re: Treasury Bills In Nigeria by chegson: 8:15am On Jul 29, 2013 |
Elai147: You do not need to beg or complain for your interesr to be paid because it is only the net value of the investment your bank ought to have deducted, leaving the interest in your account. At maturity, your account is now credited with the face value of your Investment. This is the standard practise in all the banks as regards treasury bills investment. only the n et value of the investment that should be de |
Re: Treasury Bills In Nigeria by chegson: 8:31am On Jul 29, 2013 |
Elai147: You do not need to beg or complain for your interesr to be paid because it is only the net value of the investment your bank ought to have deducted, leaving the interest in your account. At maturity, your account is now credited with the face value of your Investment. This is the standard practise in all the banks as regards treasury bills investment. only the n et value of the investment that should be de |
Re: Treasury Bills In Nigeria by feelamong(m): 9:12am On Jul 29, 2013 |
azpekuliar: If you have to move your funds between stocks and Tbills like I do at the shortest notice whiout incurring any COT or the likes then you will appreciate why i use these Discount houses/investment banks... All I do in banks is just Current account. Opari!! They are never able to give you good investment tips and all they want is just deposits! |
Re: Treasury Bills In Nigeria by fsb(m): 9:52am On Jul 29, 2013 |
Progressives, good morning. I went to Gtb to inquire about treasury bills of 91 day tenor and the guy said they only have for 30 day tenor at the rate of 6% per month according to him. |
Re: Treasury Bills In Nigeria by coderXO(m): 12:25pm On Jul 29, 2013 |
fsb: Progressives, good morning. I went to Gtb to inquire about treasury bills of 91 day tenor and the guy said they only have for 30 day tenor at the rate of 6% per month according to him. Be wary of bad information. Some of these people don't know what they are talking about and quality of the information you get can be dependent on how good a mood the person you are speaking to is. Always check and double check information when dealing with these banks. |
Re: Treasury Bills In Nigeria by Elai147: 1:13pm On Jul 29, 2013 |
chegson: That's supposed to be the normal procedure but First bank usually debit the face value from your account and later credit you with the interest. Their ways are always different and difficult. 1 Like |
Re: Treasury Bills In Nigeria by Elai147: 1:29pm On Jul 29, 2013 |
fsb: Progressives, good morning. I went to Gtb to inquire about treasury bills of 91 day tenor and the guy said they only have for 30 day tenor at the rate of 6% per month according to him. The guy must be a crook. He probably wanted you to buy from their own T-bill holdings which is not a bad idea but the rate he offered was not worth it. He should have told you when the next auction date is scheduled for so that you can send in your bid request prior to the next auction. Next time, tell them that you are only interested in buying from the primary market auction. 1 Like |
Re: Treasury Bills In Nigeria by fsb(m): 2:33pm On Jul 29, 2013 |
Elai147: So it's to go to another branch be that. He offered 6% per month for 30 day tenor which sounded like he wasn't sure so I asked is that per annum or per month. Anyway seems I should get to a different branch. |
Re: Treasury Bills In Nigeria by Tassembly(m): 3:36pm On Jul 29, 2013 |
I read here that firstbank accept 100k minimum to bid, and 1000 after, will they accept 250k in one transaction. I also read fcmb accept minimum of 250k, advice,which is better for those who use both. |
Re: Treasury Bills In Nigeria by Seun(m): 3:48pm On Jul 29, 2013 |
Elai147: That's supposed to be the normal procedure but First bank usually debits the face value from your account and later credits you with the interest. Their ways are always different and difficult. |
Re: Treasury Bills In Nigeria by fsb(m): 4:17pm On Jul 29, 2013 |
Abeg is there anyone using GTB to get treasury bills. I wanna buy into the next auction coming up next week. WHAT documentation is required. Thanks |
Re: Treasury Bills In Nigeria by Elai147: 5:20pm On Jul 29, 2013 |
fsb: Yes go to another branch or a different bank but don't ask them if they have T-bills for sale. Just tell them to buy for you from the next market auction. Make sure you send your request to them at least 24 hours before the auction date. Try not to bid too high or too low. To be on the safer side, you can avoid specifying a bid by allowing your bank buy your T-bill at the best prevailing money market rate. This way, they will most probably purchase your T-bills at a good bid rate- not too low and not too high. |
Re: Treasury Bills In Nigeria by fsb(m): 6:18pm On Jul 29, 2013 |
Elai147: Thanks my brother. Make it join the progressive band wagon... |
Re: Treasury Bills In Nigeria by collinsobinna(m): 8:24pm On Jul 29, 2013 |
Really enjoying passive income from t bills and FD,really helps one grow with compound interest. @oga elai and feel among:my banks FD rate is now 13percent possibly due to the CRR implementation,so I m hoping and asking,can T bills possibly hit 20percent. Cos liquidity seems to be the governments problem at the moment?need Your opinions sirs. Hope to retire soon from active work.just trading my cash. ![]() |
Re: Treasury Bills In Nigeria by Mpeace(m): 9:37pm On Jul 29, 2013 |
collinsobinna: Really enjoying passive income from t bills and FD,really helps one grow with compound interest.Bros are you sure? Cos no bank goes beyond CBN's MPR rate fixed at 12% as announced by Sanusi himself some wks bck, lest they run a loss. Personally if a bank offers me 13% on fd presently, I'll take my money and run. Someone is trying to cover a bad loan and balance the books. |
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