I have found it difficult to even differentiate between Primary and Secondary bidding since the beginning of the new policy of no #50.1M, no Primary purchase of TB.

As a result of this, I have deleted Primary medium of buying TB from my investment strategies. I now buy all my TB from Secondary market at a reasonable rate over the maximum tenor available. This favours time value for money, it prevents temptation of diverting your upfront into an unproductive use, it releases high dose of dopamine into your brain and makes you happy.

One of my TB got matured today. Got full liquidation credit bank alert around 12:50pm.I Just worked into my bank around 1:30pm requesting for what rates and tenor they had. The beautiful young lady looked into the Monitor in front of her and told me, with smiles, all they had. She said; " Sir, we have 28days for 18% and 308days for 18.6% minimum and maximum tenor respectively".

I opted for 304days/18.6% since I am a fan of longer tenure/tenor with a view to having more true yield. I got debited around 3:02pm and got credited by 4:00pm , capital and upfront respectively.

Summarily, stop wasting your time in chasing TB purchase through Primary market especially if you don't have #50.01M. Secondary market is available everyday. Just approach your bank. I'm sure, you will be guided accordingly.

Cheers!

15, 576.92 for 63 days @ 18%

32,884.62 for 133days @ 18%.

I think you might be asking about Call deposit and not Cash call.

Cash call is a kind of Joint Venture agreement between IOCs (Oil Companies) and the NNPC (FG).

Call deposit has been explained in the house, if that's what your enquiries are all about.

Just go back a bit to educate yourself more on the "subject matter".

Secondary market is becoming more lucrative and interesting.
The wait for two weeks is gradually fading away. You can now reinvest your upfront the next or same day you got it.
The minimum outlay for investment in TB is also becoming slimmer.
More longer tenors are now available through the secondary market.
Invest today and get your upfront today is now in vogue through this same secondary market.

I reinvested my upfront the same day I got it at 18.5%/ 349days, got another upfront that same day. Waiting till Monday to reinvest this upfront again until coz today is Saturday. I have turned this to habit. Doing this makes me enjoy the true yield of about 23% and the miracle of compound interest. This is cool, I guess!

FBN isn't a bad bank for the kind of investment. Yet to experience what happens at Stanbic bank though.

TB becomes an investment window in this recession. Let's make use of it.

Cheers!

If buying from primary auction is a function of the bank's rate, having different rates from the same bank isn't shady to some extent. You just have to go with what you have been given irrespective of the CBN stop rate. Or how will you verify that the bank actually bought at higher rates than disclosed?

Another scenario is when your purchase/bid coincides with the primary auction date and you were eventually sold the secondary market rate based on availability of the specified tenor and a good prevailing rates. How will you verify what was eventually sold to you in relation to primary and secondary purchase?

I think the TB market is becoming more competitive and negotiable. More powers have been given to banks now. Those of them that are customer friendly are ready to put smiles on their existing customer's face and luring potential ones in transferring their nest eggs to them for a win-win benefits.

These observations of mine aren't an axiom. I just viewed my opinion. I'm sure the gurus in the house will provide answers to some of my enquiries above by installing a street light on a dark road. Cheers!

You might have mistakenly instructed your bank to do auto-rollover of your liquidated fund by ticking the column for auto- rollover on the TB form. Just yield to the advice given above by liquidating it before expiration through the secondary market and expect either a capital loss or gain.

First Bank gave me 18.5% for 364 day from Primary auction of May 3, 2017.

Can someone please help with a knowledgeable account officer at Stanbic IBTC bank most especially at the Head office? I have some cash to invest in TB next week and the folks in the branch I went to seemed to lack Treasury literacy.