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Nairaland Forum / Nairaland / General / Investment / Treasury Bills In Nigeria (4625232 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 donshady(m): 3:44am On Feb 16 |
Batman2412: Very very hopeless. |
Re: Treasury Bills In Nigeria by jedisco(m): 7:45am On Feb 16 |
oluayebenz: Does the CBN have forex to defend that rate? Fixing is easy, defending it is the hard bit. 2 Likes |
Re: Treasury Bills In Nigeria by jedisco(m): 7:59am On Feb 16 |
Look at the recent loan by Nigeria facilitated through AFREXIM that was used to 'defend the naira' The details are bothersome. We borrowed $3.3B at an exorbitant interest rate of almost 12%. The collateral was pledging 90,000 bpd of our crude at a suspect price. This is just free stvpid money being given to the western banks behind this loan. So for future generations, part of the crude the nation would be producing would already had been sold before they were born. Given the hesitance of IMF to lend us money and our eurobond debacle, it wouldn't surprise the country rushes to borrow more this way. So we are done selling and squandering the crude we produce, we are now doing that for future generations. Like a son taking a loan using his living fathers property as collateral cos he believes one day the dad would die. Whats more surprising is that some folks praised this deal here. Nigeria is borrowing against our oil reserves they said. 10 Likes 3 Shares |
Re: Treasury Bills In Nigeria by freeman67: 9:27am On Feb 16 |
donshady: Yes, I used it. What's the matter? What's 'sicking' you about them? |
Re: Treasury Bills In Nigeria by donshady(m): 9:35am On Feb 16 |
freeman67: Thier mutual fund seems to be the worst of Thier investment. They hardly improve on Thier rates, customer care services is zero. 2 Likes |
Re: Treasury Bills In Nigeria by IamR: 9:54am On Feb 16 |
donshady:Their mutual fund is NET now. 1 Like |
Re: Treasury Bills In Nigeria by freeman67: 10:41am On Feb 16 |
donshady: For customer service, I only mail or chat them on WhatsApp if I need them and they respond. As for rate it's been a while I have checked any rate sha. Just checked now and saw that it's about 10.59% which is poor compared to what Stanbic posted yesterday. I just hope they do better soon. |
Re: Treasury Bills In Nigeria by Itsrm(m): 11:06am On Feb 16 |
freeman67: What did Stanbic post? Axa mansard is also doing 11.59 at a time when fixed deposits have gone to 13% Seriously considering moving my funds away if the rates don't improve. |
Re: Treasury Bills In Nigeria by thebargainhunte: 11:11am On Feb 16 |
Good morning house. Please, when is the next treasury bill coming up? |
Re: Treasury Bills In Nigeria by VeeVeeMyLuv(m): 11:30am On Feb 16 |
jedisco: That's a very sick decision Suppose the country breaks up, Will the debt from this sick move, still be bored by the emerging country or countries? 2 Likes |
Re: Treasury Bills In Nigeria by enque(f): 11:39am On Feb 16 |
Itsrm: Stanbic posted 11.73% |
Re: Treasury Bills In Nigeria by Itsrm(m): 11:57am On Feb 16 |
enque: Unacceptable. |
Re: Treasury Bills In Nigeria by Wotowotoman: 12:29pm On Feb 16 |
Itsrm: SFS is around11 1 Like |
Re: Treasury Bills In Nigeria by egojeny1(f): 12:39pm On Feb 16 |
enque:11.89% today. It's getting better 2 Likes
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Re: Treasury Bills In Nigeria by NL1960: 12:41pm On Feb 16 |
Itsrm: In which bank and at what amount?. |
Re: Treasury Bills In Nigeria by Itsrm(m): 12:45pm On Feb 16 |
NL1960: 100k-50m 12% 50m-200m 13% 200m-1bn 14% >1bn 15% First bank, 1 year Tenor. 3 Likes |
Re: Treasury Bills In Nigeria by Itsrm(m): 12:47pm On Feb 16 |
Wotowotoman: Poor as well. Expecting upwards of 15% at this time. 1 Like |
Re: Treasury Bills In Nigeria by NL1960: 1:01pm On Feb 16 |
Itsrm: I knew that the amount will be very high if it is a commercial bank. How many people have 50m-200m to keep in the bank?. N50m can get you a Microfinance Bank license that will be returned to you after approval. The same N50m can get you a Super Agent PSS license which will equally be returned after approval. I even doubt 100k will get you 12%. It will be graduated. |
Re: Treasury Bills In Nigeria by NL1960: 1:04pm On Feb 16 |
Itsrm: TDs do not compound. The only way it can compound like Stanbic MMF monthly compounding is if the tenor is 30days with automatic rollover. The bank will discount for such. |
Re: Treasury Bills In Nigeria by Itsrm(m): 1:14pm On Feb 16 |
NL1960: You don't get the point I was making. The FD rates were previously 3-6% and has now gone up to 12-15%. I'm expecting considerable increase in mfs rates as well seeing as the underlying assets have all witnessed increased rates in recent times. And yes, 100k will get you 12%. I don't want to post the evidence here so I don't get into trouble. You can confirm independently. 1 Like |
Re: Treasury Bills In Nigeria by freeman67: 1:47pm On Feb 16 |
Itsrm: Minus 10% WHT from the interest. 2 Likes |
Re: Treasury Bills In Nigeria by NL1960: 2:28pm On Feb 16 |
Itsrm: I get it now. There is now competition with many people now being aware of MMF and the ease of operation. With many people now moving their funds from FDs to MMFs, the banks have to match MMF rates in order to retain customers. You break FD before maturity, you pay a penalty. There is nothing like penalty in MMF after 30days. |
Re: Treasury Bills In Nigeria by NL1960: 2:29pm On Feb 16 |
Itsrm: This bold means the banks are in desperate mode to retain customers. |
Re: Treasury Bills In Nigeria by emmasoft(m): 2:47pm On Feb 16 |
Itsrm: Increased rates will affect MMF and Fixed income positively but it's not automatic. In most cases, it takes effect gradually once the funds are revalued to match the current realities. Fund managers also tend to rely more on MPR than Tbills rates. By next week when the MPC meets it will be clearer the direction the rate will go. 1 Like |
Re: Treasury Bills In Nigeria by emmasoft(m): 2:52pm On Feb 16 |
Itsrm: Don't make that mistake. Fixed deposits can never be better than MMF. Why do you think banks don't like investors, look well before you leap. Don't use a sledgehammer to kill mosquitoes. 1 Like |
Re: Treasury Bills In Nigeria by emmasoft(m): 2:57pm On Feb 16 |
thebargainhunte: Next week Wednesday 21st Feb, 2024, If you wish to participate you must get to your bank on or before 10am on Tuesday 20th Feb. 2024 to apply. 1 Like |
Re: Treasury Bills In Nigeria by Itsrm(m): 5:24pm On Feb 16 |
emmasoft: No, I'm definitely not moving it to FD. |
Re: Treasury Bills In Nigeria by thebargainhunte: 8:15am On Feb 17 |
emmasoft:Thank you sir. |
Re: Treasury Bills In Nigeria by jedisco(m): 1:24pm On Feb 17 |
VeeVeeMyLuv: The lenders would have good legal teams that would have factored in certain eventualities in the terms and conditions. There is of course market risk but without access to such documents, we can only guesstimate. In such event, the newly born nations or whatever nation that retains the NNPC might bear the liability. They could also put a lieu on or ringfence part of our foreign reserve. JP morgan did something similar recently by asking the CBN to deposit some of our reserves with them before they could access a loan. Ultimately, if the lenders stand to lose out completely, then you'd expect them to be heavily involved in the war or sell the debt to those who'd do the dirty job. This is less of my concern though. What worries me is that just like with eurobonds, as we've unlocked this kind of borrowing wouldn't surprise me if the FG keeps going and pledging more crude until there's none left to pledge. Another is that much of it would be looted back to europe without any benefit for the common man 5 Likes 2 Shares |
Re: Treasury Bills In Nigeria by donshady(m): 3:36pm On Feb 19 |
freeman67: Please how do I reach them on WhatsApp? I need their contact |
Re: Treasury Bills In Nigeria by freeman67: 4:45pm On Feb 19 |
donshady: When you open your investnow app, click on that picture side and scroll down down, you will see the 'Contact Us' line. Click on it and it will display all their contacts including their WhatsApp. 1 Like |
Re: Treasury Bills In Nigeria by gare2510(m): 5:49pm On Feb 19 |
When filling the TB form is it better to state your preferred interest rate or go with bank rate? |
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