Treasury Bills In Nigeria - Investment (2249)

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Treasury Bills In Nigeria - Investment (2249) - Nairaland

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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 alezzy13: 7:46pm On Jul 09

Risingcash94:
Good evening great people.
Gtb denied me primary market because I don't hear 50m o.😢☹️
Pls who else did primary market with other banks and what were the rates? Thanks

No mind them. That's what I'm being told oo.

I had to settle for secondary market, though the difference is not much. (I got 19.5% for 359 as against 20% at primary mkt)

1 Like

Re: Treasury Bills In Nigeria by alezzy13: 7:52pm On Jul 09

heavenisreal18:

My account officer is quite far was told to always reach out thru mails and is almost a month, attached is their mail for excuses, is the a better bank to do it I am tried of gt

I strongly suggest you physically go to any of their branches and get it done. From my experience, they can notorious when it comes to following up with such instructions via mail, unless you follow up continuously with calls.

To save the stress simply go to any branch, ask for those in charge, they will give you the rates, you fill the form and that's it. Usually doesn't take more than 10mins.

1 Like

Re: Treasury Bills In Nigeria by drealj: 8:58pm On Jul 09

Pls wat is the present secondary market rate for stanbic ibtc,first bank and gtb.hope stanbic is bidding for primary market tomorrow

Re: Treasury Bills In Nigeria by heavenisreal18: 11:05pm On Jul 09

Pls I have been debited for t- bills how many days does it take to get the certificate, certificate is the proof

Re: Treasury Bills In Nigeria by heavenisreal18: 11:08pm On Jul 09

alezzy13:

No mind them. That's what I'm being told oo.

I had to settle for secondary market, though the difference is not much. (I got 19.5% for 359 as against 20% at primary mkt)

Pls did you get your certificate immediately

Re: Treasury Bills In Nigeria by Risingcash94: 7:26am On Jul 10

Same here I settled for secondary at the same rate.

alezzy13:

No mind them. That's what I'm being told oo.

I had to settle for secondary market, though the difference is not much. (I got 19.5% for 359 as against 20% at primary mkt)

Re: Treasury Bills In Nigeria by cutedharmee: 9:25am On Jul 10

But I think the primary market is suppose to be today been Thursday?

Re: Treasury Bills In Nigeria by adetunrayo(f): 1:30pm On Jul 10

DFPS:
Stanbic is not bidding tomorrow

Do you know why?

Re: Treasury Bills In Nigeria by Odunharry(m): 1:38pm On Jul 10

cutedharmee:
But I think the primary market is suppose to be today been Thursday?

Primary market auction is today Wednesday not Thursday

Re: Treasury Bills In Nigeria by cutedharmee: 2:27pm On Jul 10

Odunharry:

Primary market auction is today Wednesday not Thursday

Re: Treasury Bills In Nigeria by tabithababy(f): 2:33pm On Jul 10

DFPS:
Stanbic is not bidding tomorrow

. Whao I just got a call from stanbic now, that the primary auction was not successful embarassed

Re: Treasury Bills In Nigeria by Risingcash94: 3:08pm On Jul 10

Good afternoon. Hope you're having a nice day? Pls I need to know if you reinvested your interest. And if you did did, they leave the interest that is less than a hundred thousand which could not be reinvested? If not did you get your upfront interest after you had been debited?
Cos I applied for reinvestment yet nothing was left. They even tampered with the balance in my account for their custodian fee.
I'm still waiting patiently hoping to see the least interest paid back into my account.
I'm curious because this is my first time investing with gtb. Thanks 🙏

alezzy13:

No mind them. That's what I'm being told oo.

I had to settle for secondary market, though the difference is not much. (I got 19.5% for 359 as against 20% at primary mkt)

Re: Treasury Bills In Nigeria by DFPS: 4:16pm On Jul 10

tabithababy:
. Whao I just got a call from stanbic now, that the primary auction was not successful

they didn't bid atall . But there secondary market rate not bad. 20.3 for 350+ days

Re: Treasury Bills In Nigeria by DFPS: 4:17pm On Jul 10

adetunrayo:

Do you know why?

It’s the bank’s decision

Re: Treasury Bills In Nigeria by alezzy13: 4:22pm On Jul 10

heavenisreal18:

Pls did you get your certificate immediately

Not sure if GT gives certificate automatically.

Personally I've never gotten - though it's probably because I don't request. Usually I rely on the email debit notice and investment details (amt, tenor, maturity date) that shows up on my internet platform & it suffices for me.

You may need to reach out to them.

2 Likes

Re: Treasury Bills In Nigeria by alezzy13: 4:31pm On Jul 10

Risingcash94:
Good afternoon. Hope you're having a nice day? Pls I need to know if you reinvested your interest. And if you did did, they leave the interest that is less than a hundred thousand which could not be reinvested? If not did you get your upfront interest after you had been debited?
Cos I applied for reinvestment yet nothing was left. They even tampered with the balance in my account for their custodian fee.
I'm still waiting patiently hoping to see the least interest paid back into my account.
I'm curious because this is my first time investing with gtb. Thanks 🙏

@bolded, no I have always collected my internet upfront. Usually they will debit the amount and processing fees, and leave the interest. Then at at maturity, the principal is paid.

If you not satisfied with their service you can try customer care line.

Re: Treasury Bills In Nigeria by alezzy13: 4:34pm On Jul 10

DFPS:
It’s the bank’s decision

Hmm.

Re: Treasury Bills In Nigeria by alezzy13: 4:35pm On Jul 10

DFPS:
they didn't bid atall . But there secondary market rate not bad. 20.3 for 350+ days

I guess they more interested in selling. But honestly the rates are virtually the same as that of primary

Re: Treasury Bills In Nigeria by abiolag(m): 6:38pm On Jul 10

DFPS:
they didn't bid atall . But there secondary market rate not bad. 20.3 for 350+ days

How many days does it take to effect liquidation letter? I've submitted since on Monday and I've not received any message of acknowledgement yet

Re: Treasury Bills In Nigeria by currentprice: 7:21pm On Jul 10

Error post

Re: Treasury Bills In Nigeria by Nakedman: 8:49pm On Jul 10

Here you go!. 21.24% here.

7 Likes

Re: Treasury Bills In Nigeria by DFPS: 12:39am On Jul 11

abiolag:

How many days does it take to effect liquidation letter? I've submitted since on Monday and I've not received any message of acknowledgement yet

same day.

Re: Treasury Bills In Nigeria by drealj: 9:09am On Jul 11

Pls wat is the secondary market rate at stanbic and first bank this morning

Re: Treasury Bills In Nigeria by egojeny1(f): 10:16am On Jul 11

Nakedman:
Here you go!. 21.24% here.

This makes sense

1 Like

Re: Treasury Bills In Nigeria by gare2510(m): 10:29am On Jul 11

Can one invest in TB through ARM, primary or secondary market?

Re: Treasury Bills In Nigeria by Nakedman: 10:51am On Jul 11

egojeny1:

This makes sense

No it's not. Inflation is at 33%.

1 Like

Re: Treasury Bills In Nigeria by egojeny1(f): 11:05am On Jul 11

Nakedman:

No it's not. Inflation is at 33%.

That's true

1 Like

Re: Treasury Bills In Nigeria by ositadima1(m): 1:45pm On Jul 11

egojeny1:

This makes sense

The quoted inflation rate is an average across a basket of goods selected by the government. Therefore, my inflation and your inflation may not be the same, depending on what we spend money on. For some people, inflation can be as high as 60%, while for others it may be just 15%, depending on the things they buy and their location, etc. You'd better calculate your own inflation rate, lol! wink

2 Likes

Re: Treasury Bills In Nigeria by Risingcash94: 3:24pm On Jul 11

GOOD EVENING. PLS CAN SOMEONE HELP ME WITH THE FORMULA FOR CALCULATING TREASURY BILLS AGAIN. I THOUGHT I UNDERSTOOD IT BUT THE AMOUNT GTB IS TELLING ME TO EXPECT AT MATURITY DOESN'T ADD UP. I JUST WANT TO BE SURE BEFORE I GO MAKE UNNECESSARY CONFRONTATION BIKO🙏
I ASKED FOR REINVESTMENT BUT AND THEY DIDN'T DROP A DIME. WHEN I CONTACTED MY ACCOUNT OFFICER THE AMOUNT SHE'S TELLING ME TO EXPECT IS NOT ADDING UP ESPECIALLY SINCE SHE SAYS I'M TAKING EVERYTHING AT MATURITY.

TENOR 359 days..
RATE. 19.50
Thanks

Re: Treasury Bills In Nigeria by awesomeJ(m): 3:44pm On Jul 11

Risingcash94:
Good afternoon. Hope you're having a nice day? Pls I need to know if you reinvested your interest. And if you did did, they leave the interest that is less than a hundred thousand which could not be reinvested? If not did you get your upfront interest after you had been debited?
Cos I applied for reinvestment yet nothing was left. They even tampered with the balance in my account for their custodian fee.
I'm still waiting patiently hoping to see the least interest paid back into my account.
I'm curious because this is my first time investing with gtb. Thanks 🙏

You seem to have asked this question more than once, so as a Nigerian let me answer it with question too.

You asked the bank to reinvest your upfront interest and you expect the bank to leave th interest in your account, is that what you're saying??

Cos if it is, then I don't understand again o.

1 Like

Re: Treasury Bills In Nigeria by freeman67: 3:55pm On Jul 11

Risingcash94:
GOOD EVENING. PLS CAN SOMEONE HELP ME WITH THE FORMULA FOR CALCULATING TREASURY BILLS AGAIN. I THOUGHT I UNDERSTOOD IT BUT THE AMOUNT GTB IS TELLING ME TO EXPECT AT MATURITY DOESN'T ADD UP. I JUST WANT TO BE SURE BEFORE I GO MAKE UNNECESSARY CONFRONTATION BIKO🙏
I ASKED FOR REINVESTMENT BUT AND THEY DIDN'T DROP A DIME. WHEN I CONTACTED MY ACCOUNT OFFICER THE AMOUNT SHE'S TELLING ME TO EXPECT IS NOT ADDING UP ESPECIALLY SINCE SHE SAYS I'M TAKING EVERYTHING AT MATURITY.

TENOR 359 days..
RATE. 19.50
Thanks

You have added rate and tenure. What is not there is the principal and as such you may not get your desired response.

However, let me just try it with my crude way of calculation I use. I don't use excel and I also don't know any complex maths for it but if I want to invest say about 1m with that tenure and rates, I will be expecting about N1,228,579.66. This is how I do mine.

Below is my calculation.

1,000,000 ÷ 100 x 19.50 ÷ 365 x 359 = 191,794.521

The bolded above is the upfront interest you are supposed to get originally.

191,794.521 ÷ 100 x 19.50 ÷ 365 x 359 =
36,785.1382

The bolded above is the interest to be realised from the reinvested interest.

Add the principal and 2 of the bolded above together. You will arrive at my response above.

2 Likes

Re: Treasury Bills In Nigeria by NL1960: 4:00pm On Jul 11

Risingcash94:
GOOD EVENING. PLS CAN SOMEONE HELP ME WITH THE FORMULA FOR CALCULATING TREASURY BILLS AGAIN. I THOUGHT I UNDERSTOOD IT BUT THE AMOUNT GTB IS TELLING ME TO EXPECT AT MATURITY DOESN'T ADD UP. I JUST WANT TO BE SURE BEFORE I GO MAKE UNNECESSARY CONFRONTATION BIKO🙏
I ASKED FOR REINVESTMENT BUT AND THEY DIDN'T DROP A DIME. WHEN I CONTACTED MY ACCOUNT OFFICER THE AMOUNT SHE'S TELLING ME TO EXPECT IS NOT ADDING UP ESPECIALLY SINCE SHE SAYS I'M TAKING EVERYTHING AT MATURITY.

TENOR 359 days..
RATE. 19.50
Thanks

I = P * T * R / (number of days in the year)

I - Interest to be earned
P = Principal
T = Tenor
R = Rate in percentage
number of days in the year = 365 or 366(Leap Year)

P = 1,000,000 (Assume you are investing N1m)
T = 359
R = 19.50 = 19.50/100 = 0.195

I = (1,000,000 * 359 * 0.195) / 366 = 191,270.49

So your Interest is 191,270.49

GTB should debit you with: 1,000,000 - 191,270.49 = 808,729.51

NB: Charges are not included in this explanation.

Note: Different banks have different ways of passing the entries. Some banks will debit you with N1m and then credit you with 191,270.49. At maturity, you are now credited with N1m.

3 Likes

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