Adebhayor: Hi pals, av been following dis trend. U guyz are really doing a great job. Plz i need clarification on this, if one want too invest in TB, do u just pick an interest rate or check the previous rate before choosing what to bid for. Secondly, if one pick an interest rate of 11% for 91days and CBN actually rate came out as 10.59%, does it mean the investement will be unsuccessful or the investment will take effect with CBN rate. Thanks.

You can use previous rate as a guide. Some analysts (e.g Meristem) offer advised bid rates for every auction based on current market trend.

If you bid higher than CBN's stop rate for the auction your bid will be unsuccessful.

Thanks Elai147. Please how can i get those analysts and wen is the next auction. Thanks

Adebhayor: Thanks Elai147. Please how can i get those analysts and wen is the next auction. Thanks

I think Meristem only send these updates to their clients- those who have them as their stockbrokers. The next auction should be 20-11-2013.

pappilo:

And you will claim that you are a graduate o. Were you expecting 10% for 3 months? Its advertised as 10% PA so if you have invested for only 3 months, you get only 2.5%

i.e 10% divided by 4 i.e we av 4 3months in a year. @ elia 142,some one that didn't av business mathematics knowledge may not know.

@elai:hi,please I need ur opinion.this morning after reading Cbn s too big to fail banks and not finding my bank on the list,I felt sad and started searching for a new nest for my funds but I need it to be somewhere I can have easy access to both primary and secondary market t bills.

Thus far,I had first bank and zenith in mind but first bank only does 91 days or so I ws told on the phone by a first bank official from my local branch. If they have secondary market availability,I m yet to know.

So mr elai,any other person that has been dealing with first bank should please fill me in. Then if there is any bank among the big eight that can handle both primary and secondary market bids,someone should let me know.

Have read that first bank doesn't credit the interest on same day of transaction but they ve denied it so far.So I need people who ve had the experience to fill me in or do I stick to my bank and disregard the too big to fail statement from Cbn

I forgot to mention.the zenith branch I went to wanted me to fix the funds instead of investing in Tbills as that will be more beneficial to them..smh...so zenith out of question.

collinsobinna: @elai:hi,please I need ur opinion.this morning after reading Cbn s too big to fail banks and not finding my bank on the list,I felt sad and started searching for a new nest for my funds but I need it to be somewhere I can have easy access to both primary and secondary market t bills.

Thus far,I had first bank and zenith in mind but first bank only does 91 days or so I ws told on the phone by a first bank official from my local branch. If they have secondary market availability,I m yet to know.

So mr elai,any other person that has been dealing with first bank should please fill me in. Then if there is any bank among the big eight that can handle both primary and secondary market bids,someone should let me know.

Have read that first bank doesn't credit the interest on same day of transaction but they ve denied it so far.So I need people who ve had the experience to fill me in or do I stick to my bank and disregard the too big to fail statement from Cbn

I don't think there is any cause for alarm. The news is not a signal that funds are unsafe with other banks. CBN, as a regulator, cannot be that stu.pid to give such insinuation- I am sure they must have admitted their mistake by now to have released such a list. Anyway, even if anything should happen to your bank you should be fine as long as your money is fixed in Treasury bills (not bank fixed deposit). The money you use to purchase TBills stays with the CBN- it is guaranteed by the FGN.

First bank only offers 91 days bills. I have never bought from the secondary market with FBN. However, if you buy your TBills via FBN you are almost guaranteed that the purchase will go through since FBN does not allow you to specify your bid rate- they give you from their succeeded bids or bid for you at a safe/guaranteed bid rate- so you may not need to worry about buying from the secondary market. If FBN says they cannot buy from the secondary market, and you are worried about the safety of your funds, why not confine your TBill purchase to primary market auctions only?

It is true that FBN does not credit you on the auction day. However, recently they've been doing pretty well and sometimes I get my interest as early as 3 days after the auction. I do my T-bills investment with FBN and Keystone (defunct bank PHB) and I am not worried that Keystone bank did not make the list of the so called "too big to fail" banks- I didn't expect them to anyway. In my opinion, no Nigerian bank is too big to fail. Oceanic bank was too big to fail, the rest is history. Bros, make u follow your heart or for rest of mind just dey run your Tbill tins with First bank.

Elai147,pls wats d minimum amt of Tbills keystone sells.thanks

@elai thanks.i get your points. And u just reminded me am not even dealing with the bank but with cbn

Pls I am interested in t bills, I have ask questions on this but d explanation given to me wad not enough as am a novice when it comes to t bills, o need I to u to enlighten me more on this!

chegson: @all pls, what is the minimum amount required by Gtbank for investment in treasury bills. A member of their staff told me sometime ago that it was N1 Million Naira minimum. Pls, forum members that applied for tbills through Gtbank, how far is this true. Your urgent response shall be appreciated pls.

hundre. k

moneybag100:

Why the insult ? I never knew it was PA, I got it all wrong, get that to you dumb head MR GRADUATE

No vex guy.... Was just teasing you

slord: Elai147,pls wats d minimum amt of Tbills keystone sells.thanks

I'm not sure about that. I have never asked them about their accepted minimum. You can send them an email and enquire about it (contactcentre@keystonebankng.com). They usually reply promptly.

christina paul: Pls I am interested in t bills, I have ask questions on this but d explanation given to me wad not enough as am a novice when it comes to t bills, o need I to u to enlighten me more on this!

Try and read through this thread starting from page 1 and you will find all that you need to know about Tbills. It may take some time but at the end you should be fine. If you have further questions after reading through you may ask the house and you will get answers. Hope this helps.

Elai147:

Apparently the bank officers were trying to dissuade you. Try another branch or bank. First bank accept 100K minimum and they've been wonderful so far.

Pls, wat branch of first bank accepts N100K. Thanks

sammiejr:

Pls, wat branch of first bank accepts N100K. Thanks

Stock exchange branch accepts as low as N100k

emmanuel ewumi:


Stock exchange branch accepts as low as N100k

please where is the branch? First bank branch close to me says the minimum abount is 500k, GTbank says there minimum is 1million. Somebody should please tell me which branch i can get the NTB for 100k in portharcourt. Feelamong come help your man o.

princeuk21: please where is the branch? First bank branch close to me says the minimum abount is 500k, GTbank says there minimum is 1million. Somebody should please tell me which branch i can get the NTB for 100k in portharcourt. Feelamong come help your man o.

My kobomart Oga, you too wan join do TBills?

princeuk21: please where is the branch? First bank branch close to me says the minimum abount is 500k, GTbank says there minimum is 1million. Somebody should please tell me which branch i can get the NTB for 100k in portharcourt. Feelamong come help your man o.

Bros .. i no sabi PH o! you know say too much oyel money dey that una side!

if to say u dey lag.. we for try fix you for one bank here...still scan around.. somebody must take that ur money naa..

feelamong:
Bros .. i no sabi PH o! you know say too much oyel money dey that una side!

if to say u dey lag.. we for try fix you for one bank here...still scan around.. somebody must take that ur money naa..

Haba Oga feelamong, why you dey put fear for prince body nah
Prince dey find where him go put him oyel/militant loot and you wan make am begin fear, why?
Oga Prince, abeg visit any FCMB Bank closet to you and ask the right questions. Am sure you get satisfying answer.
Goodluck.

sammiejr:

Pls, wat branch of first bank accepts N100K. Thanks

princeuk21: please where is the branch? First bank branch close to me says the minimum abount is 500k, GTbank says there minimum is 1million. Somebody should please tell me which branch i can get the NTB for 100k in portharcourt. Feelamong come help your man o.

The easiest way is to send an email to their head office (firstcontact@firstbanknigeria.com). Ensure to state your branch name and account number in the email. It is the head office that told me that their minimum is 100k. They will send you a form to fill and return along with a scanned letter authorising them to debit your account for whatever amount of bills you would like to purchase. They will forward your email, signed letter and completed form to your branch office to purchase the Tbills. Fear no go let the branch tell Fisrtcontact say their minimum na 1 million. Na all these local braches dey talk this 1million story because dem want big commission. They will buy your Tbills for you and forward your certificate to you upon request.

Elai147:

I'm not sure about that. I have never asked them about their accepted minimum. You can send them an email and enquire about it (contactcentre@keystonebankng.com). They usually reply promptly.

thanks ill do that,GOD bless

Hello every1,
I did my lil research today and was given the figures below as minimum initial deposit for each banks located in gwagwalada, Abuja. I was told it cuts across all branches of the particular bank. That! I find hard to believe.

Access bank-N100k @ 8% (bank rate)
Zenith. ”. -N1M
Skye. -N100K @ 8% (bank rate)
Ecobank. -N500k
Diamond bank-N100k
Stanbic IBTC-N1M
GTB. -N5M if ur bidding from secondary market (got this from the bank branch) and N10,000 from primary market (from customer care agent over the phone). I however feel the customer care agent who told me the minimum Initial deposit for GTB was N10,000 may not be right coz she had to keep me on hold on several occasions to confirm details from her colleagues. I believe it shud be from N100k based on several write-ups I've read online. For d same pry mkt-91days=10.899%, 182day=11.6%, 364days=11.8%.
GTB customer care no - 08039003900
If any one has additional info. Pls help.
Thanks.

9free:
My kobomart Oga, you too wan join do TBills?

waiting man go do na make i follow unna chop small doh na

feelamong:
Bros .. i no sabi PH o! you know say too much oyel money dey that una side!

if to say u dey lag.. we for try fix you for one bank here...still scan around.. somebody must take that ur money naa..

ok sir i will keep searching and let the house know the outcome.

9free:
Haba Oga feelamong, why you dey put fear for prince body nah
Prince dey find where him go put him oyel/militant loot and you wan make am begin fear, why?
Oga Prince, abeg visit any FCMB Bank closet to you and ask the right questions. Am sure you get satisfying answer.
Goodluck.

thank you so much sir @9free

Elai147:



The easiest way is to send an email to their head office (firstcontact@firstbanknigeria.com). Ensure to state your branch name and account number in the email. It is the head office that told me that their minimum is 100k. They will send you a form to fill and return along with a scanned letter authorising them to debit your account for whatever amount of bills you would like to purchase. They will forward your email, signed letter and completed form to your branch office to purchase the Tbills. Fear no go let the branch tell Fisrtcontact say their minimum na 1 million. Na all these local braches dey talk this 1million story because dem want big commission. They will buy your Tbills for you and forward your certificate to you upon request.

i will also do that, thank you so much @elia

Mr feelamong sir,i was d one dat mailed u and afterwards cald u,tanks 4 ur advice

slord: Mr feelamong sir,i was d one dat mailed u and afterwards cald u,tanks 4 ur advice

Well done bro!! Happy investing!!

#respects

Elai147:



The easiest way is to send an email to their head office (firstcontact@firstbanknigeria.com). Ensure to state your branch name and account number in the email. It is the head office that told me that their minimum is 100k. They will send you a form to fill and return along with a scanned letter authorising them to debit your account for whatever amount of bills you would like to purchase. They will forward your email, signed letter and completed form to your branch office to purchase the Tbills. Fear no go let the branch tell Fisrtcontact say their minimum na 1 million. Na all these local braches dey talk this 1million story because dem want big commission. They will buy your Tbills for you and forward your certificate to you upon request.

Sent a mail. Thanks 4d info.

feelamong:

Well done bro!! Happy investing!!

#respects

thank u so much sir

qizick:

hundre. k

Thanks for ur response @ qizick.
I even sent them email but no response from them.