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
days or will the 100k be further devided by 4 thereby giving me 25k after a 90 days investment of 1m at 10% ?

feelamong:

I have never used a bank for my Tbills Transaction.. Rather use The Discount Houses, or boutique investment banks..

Mpeace :
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.

oyewole123:

@ 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

feelamong:
I have used kakawa discount house and I presently use Fidelity Securities ltd..

feelamong:
I have used kakawa discount house and I presently use Fidelity Securities ltd..

Mpeace :
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.

Elai147:

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.

Mpeace :

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)

Elai147:

Some banks are usually very slow in crediting investors account. My last roll over was effected last month June 26, and I only received my interest on July 15 after so much complaints to Firstcontact. You have to keep disturbing them to credit your interest in your account.

Elai147:

Some banks are usually very slow in crediting investors account. My last roll over was effected last month June 26, and I only received my interest on July 15 after so much complaints to Firstcontact. You have to keep disturbing them to credit your interest in your account.

azpekuliar:


What's the extra benefit with using a Discount house compared to a Commercial bank.

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.

Meanwhile this people were supposed to open a savings account for me but they ended up doing current and charging me outrageous COT on my transaction this morning. Is it worth it buying treasury bills from a current account? Please advise...

chegson:

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

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.

Elai147:

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.

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.

fsb:

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.

Elai147:

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.

collinsobinna: 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.