Do anyone here invest in “bamboo” fixed deposits?

biznus:

Stanbic says WITHIN 2 working days. I redeemed Saturday and it dropped today Monday

Most times it's like that. Even with FBNQUEST and United Capital you can get your funds same day if the redemption request is done online via web or app appropriately. You do it early in the morning, have your security question and password verified and all that. Stanbic have a an online redemption limit of N2,500,000 the last time I checked.

If you are going through the mail route or going to their office to request for redemption especially for those outside Lagos, same day redemption night not work.

FBN just refunded my money citing failed NTB bid.

Odunharry:

Secondary market will give you 23.5 fr 257 days as at today's rate.

That must be the yield and not discount rate

Odunharry:

Secondary market will give you 23.5 fr 257 days as at today's rate.

What bank or investment house?

debbydee:


What bank or investment house?

Investment one financial services.

Send me a message. Let us talk more.

You can read more about the company

safex:

That must be the yield and not discount rate

Yes it is the yield.

freeman67:
FBN just refunded my money citing failed NTB bid.

Take advantage of the secondary market.

It seems some bank didn't participate in yesterday's auction

Odunharry:

Investment one financial services.

Send me a message. Let us talk more.

You can read more about the company

Can one invest in TBills via the company's mobile app?

Emmasoft please why is SFS still very low? 12.5% is an insult! 😡

Acidosis:



Interesting question. I'm wondering what the FG/CBN intends to do with the trillions of Naira though.

Although I don't agree that mopping up Naira through FDs or bonds can curb inflation in a country like Nigeria, I get the whole textbook justification for mopping up funds. But, I'm just wondering what would be done with this cash.

Sometime in 2022, The Cable reported in a caption that "FG to repay N20trn 'Ways and Means' loans with treasury bills." During the same regime, FG also reported using TBs for infrastructure.

Good question. It's becoming obvious that most of these monies are just numbers of a computer.

Just like in 2017 ish, the increased rate should buy them time though- the activity on this thread is a testament. It serves as a plaster buying then 1-2 yrs to adress the underlying issues which are the actual drivers of inflation. The main question is what happens when these fresh monies are released in 1-2 yrs. If inflation is not under control by that time, then the new money would only fuel further devaluation.

Odunharry:

Secondary market will give you 23.5 fr 257 days as at today's rate.

How my brother my bid even failed as I insisted on 21% at first bank last primary market. Yesterday I tried secondary market at first bank and they are saying 18%

jedisco:


Good question. It's becoming obvious that most of these monies are just numbers of a computer.

Just like in 2017( ish, the increased rate should buy them time though- the activity on this thread is a testament. It serves as a plaster buying then 1-2 yrs to adress the underlying issues which are the actual drivers of inflation. The main question is what happens when these fresh monies are released in 1-2 yrs. If inflation is not under control by that time, then the new money would only fuel further devaluation.

Exactly. I think they're trying to buy time while they address the underlying issues. I also read that the FG would be issuing Eurobond on or before June (after a two-year break), according to Bloomberg. While I'm a bit convinced that the intention may be to address underlying issues, intentions of Nigerian leaders hardly meet up with expectations. The FG's silence about reports on smuggling and padding here and there is killing the little optimism. Best case scenario, Baba will buy enough time to retain his seat come 2027.

The Central Bank of Nigeria (CBN) has sold N161.5 billion worth of Nigerian Treasury Bills (NTBs) across various maturities at its auction on March 13, 2024.

The sale indicates continuing confidence among investors in the Nigerian government’s debt instruments.

Details of the Auction
Here are the details of the auction:

For the shortest tenure of 91 days, the CBN offered N728.17 million, with the total subscriptions coming in at N85.51 billion. From this, N5.73 billion was allotted with a stop rate of 16.239%, signalling strong investor demand for short-term securities.
The 182-day bills saw an offer of N918.38 million and garnered subscriptions worth N49.65 million, resulting in an allotment of N4.92 billion. Notably, the stop rate for these mid-term bills was set at a flat 17.000%, hinting at market expectations for a stabilised rate environment over the coming months.
Demonstrating the highest demand, the 364-day bills had an offer of N159.85 billion, with a subscription of N1.36 trillion, far exceeding the other tenors. However, the CBN allotted N150.85 billion at a stop rate of 21.1240%, indicating investors’ willingness to hold longer-term bills despite a higher yield reflecting the risk premium for extended maturities.
More Insights
By tightening monetary policy through higher interest rates and large treasury bill auctions, the CBN aims to curb inflation and stabilise the exchange rate, thereby fostering a more balanced economic environment. 
The total sale of N161.5 billion in NTBs underscores a robust appetite for Nigerian sovereign instruments, with a significant over-subscription, especially in the longer tenor, suggesting that investors are looking for higher returns and are willing to engage with longer maturity profiles.
The variation in stop rates across tenors also offers insight into investor sentiment regarding short-, medium-, and long-term economic outlooks.

While the lower stop rate on the 182-day bill suggests anticipation of stable interest rates, the higher stop rate on the 364-day bill could imply a cautious stance towards potential future economic volatilities.

Investors’ diversified demand across the different maturities of treasury bills reflects strategic positioning for various investment horizons and signals a healthy trading environment in the Nigerian debt market.

Stanbic primary didn't go through

Anyone with secondary rate from any bank today seeing that most primary was unsuccessful ??
Gtb says secondary unavailable currently

Timmi:
The Central Bank of Nigeria (CBN) has sold N161.5 billion worth of Nigerian Treasury Bills (NTBs) across various maturities at its auction on March 13, 2024.

The sale indicates continuing confidence among investors in the Nigerian government’s debt instruments.

Details of the Auction
Here are the details of the auction:

For the shortest tenure of 91 days, the CBN offered N728.17 million, with the total subscriptions coming in at N85.51 billion. From this, N5.73 billion was allotted with a stop rate of 16.239%, signalling strong investor demand for short-term securities.
The 182-day bills saw an offer of N918.38 million and garnered subscriptions worth N49.65 million, resulting in an allotment of N4.92 billion. Notably, the stop rate for these mid-term bills was set at a flat 17.000%, hinting at market expectations for a stabilised rate environment over the coming months.
Demonstrating the highest demand, the 364-day bills had an offer of N159.85 billion, with a subscription of N1.36 trillion, far exceeding the other tenors. However, the CBN allotted N150.85 billion at a stop rate of 21.1240%, indicating investors’ willingness to hold longer-term bills despite a higher yield reflecting the risk premium for extended maturities.
More Insights
By tightening monetary policy through higher interest rates and large treasury bill auctions, the CBN aims to curb inflation and stabilise the exchange rate, thereby fostering a more balanced economic environment. 
The total sale of N161.5 billion in NTBs underscores a robust appetite for Nigerian sovereign instruments, with a significant over-subscription, especially in the longer tenor, suggesting that investors are looking for higher returns and are willing to engage with longer maturity profiles.
The variation in stop rates across tenors also offers insight into investor sentiment regarding short-, medium-, and long-term economic outlooks.

While the lower stop rate on the 182-day bill suggests anticipation of stable interest rates, the higher stop rate on the 364-day bill could imply a cautious stance towards potential future economic volatilities.

Investors’ diversified demand across the different maturities of treasury bills reflects strategic positioning for various investment horizons and signals a healthy trading environment in the Nigerian debt market.

Please what is the essence of this epistle?

Oshokhai69:


Please what is the essence of this epistle?

Only if you have the mental capacity and can put your common sense to work, then and only then will you understand the essence of this epistle.

Acidosis:


Can one invest in TBills via the company's mobile app?

For now , No sir.

However, you can fix your funds, Trade in stocks, pay your utilities , buy airtime and data on the app.

ogawisdom:


How my brother my bid even failed as I insisted on 21% at first bank last primary market. Yesterday I tried secondary market at first bank and they are saying 18%

Take advantage of secondary rates for 357 still at 23.5 yield

ogawisdom:


How my brother my bid even failed as I insisted on 21% at first bank last primary market. Yesterday I tried secondary market at first bank and they are saying 18%

How come your bid failed?, I believe the stop rate was over 21%, I'm looking forward to participating in the next primary auctions for 20.40%.

Foodempire:


How come your bid failed?, I believe the stop rate was over 21%, I'm looking forward to participating in the next primary auctions for 20.40%.

When is the next primary auction

Timmi:


While the lower stop rate on the 182-day bill suggests anticipation of stable interest rates, the higher stop rate on the 364-day bill could imply a cautious stance towards potential future economic volatilities.

True

Odunharry:

For now , No sir.

However, you can fix your funds, Trade in stocks, pay your utilities , buy airtime and data on the app.

Okay. Thank you.

Acidosis:


Okay. Thank you.

Welcome sir. You can drop a message if you need further answers to enquiry.

biznus:
Anyone with secondary rate from any bank today seeing that most primary was unsuccessful ??
Gtb says secondary unavailable currently

Invested with Gtb secondary mkt @18%, 357days. Just yesterday. Seemed a tad low.

jidobaba:

Invested with Gtb secondary mkt @18%, 357days. Just yesterday. Seemed a tad low.

been searching for 18% today no way. Highest was 17%
I'll wait till next week

biznus:
Anyone with secondary rate from any bank today seeing that most primary was unsuccessful ??
Gtb says secondary unavailable currently

17.8% First bank quite poor

Odunharry:

Take advantage of secondary rates for 357 still at 23.5 yield

What bank ?

Chikebrain:

What bank ?

Investment One Financial Services Ltd.

ogawisdom:


17.8% First bank quite poor

exactly. Turned down anything 17.%. Let's see how next week will look like. I Just hope the law of diminishing returns won't take place as time goes on. It's 18% and above or primary market

biznus:
exactly. Turned down anything 17.%. Let's see how next week will look like. I Just hope the law of diminishing returns won't take place as time goes on. It's 18% and above or primary market

It's even unwise to lock down fund in an unstable economy like Nigeria for anything less than 20% for a year.

Liquidity is king in investing, opportunities can always come but only those with liquid investment can take them, this is the secret of the rich.

Ability to buy undervalued assets in the market anytime they come.

They have managed to keep USD below 1600 for over 2 weeks now otherwise USD speculation can deliver 20% in less than 2 months before now.

Let's wait for next auction

It's better to keep fund at 12% that you can withdraw anytime to take advantage of opportunities than lock them at 18% that limits you. It's called liquidity

MMF investors has liquidity but they may not understand.