youngestland:


Paid too but it is like DMO paid only 1 set leaving other sets this is still a place of concern o

Please guys what is the worst that can happen cos I have made up my mind to give mandate to my broker to sell all 4 of my FGNSBs.

The worst that could happen is we are bleeped if no coupons.

Nakedman:


So what should we believe? 😃. Since it's all naira. I believe it will get sorted out. Or else this will cause a lot of commotion.

I actually agree with the bolded. The question is, if it's that easy to pay, what are they not telling us? It's certainly not system issues.

freeman67:


Yes but they are still some not yet paid..

I know of 3YR FGSB OFFER FOR SEPTEMBER 2021 which matured on the 15/09/2024. The last coupon was supposed to be paid on that day along with the principal but it wasn't. In fact only the principal was paid after like 3 days of maturity.


I heard last month payments were delayed too. So, something is definitely not right.

Last month's payments were delayed, yes.

That's my opinion too. If happened last month and they didn't fix it and still allowed it to happen this month, then something must be wrong somewhere.

IYGEAL:


Last month's payments were delayed, yes.

That's my opinion too. If happened last month and they didn't fix it and still allowed it to happen this month, then something must be wrong somewhere.

On the DMO page on Twitter, I have seen couple of comments concerning the July 24 coupon. I am sure they can see it also. It's sending wrong Signal to investors. Right now I won't be investing in any Nigerian investment till further notice even though there hasn't been any defaults.

Nakedman:


The worst that could happen is we are bleeped if no coupons.

OMO do not make one get HBP.. but is it possible for FGN to still exist and they owe us money without paying us forever i dont think so o

Well i have sent the mail to sell my bonds let see the offer i get first

youngestland:


OMO do not make one get HBP.. but is it possible for FGN to still exist and they owe us money without paying us forever i dont think so o

Well i have sent the mail to sell my bonds let see the offer i get first

CBN and CSCS are the ones in control of coupon payments, I am less worried. Also Nigeria’s first domestic USD bond sets new milestone as United Capital raises $900m. With this news, I think there is still a trust in the system.

Atlast them pay me o this is for December 2023 3rd coupon

manwomanok:
Good evening everyone

please when is the due date for 16.2884% FGN MARCH 2027 coupon payment

Thank you

coupon received

Good evening house,
When is the next Treasury Bill auction?

efismikoko:
Atlast them pay me o this is for December 2023 3rd coupon

You people almost tore yourself apart 🤣

manwomanok:


coupon received

Lol. You all better learn some patience when dealing with Nigerian system 🤣

Nakedman:


You people almost tore yourself apart 🤣

Haha you that almost dashed us HBP with your comments 😂😅

Nakedman:


Lol. You all better learn some patience when dealing with Nigerian system 🤣

clearly. DMO says it's system issues, so we should take thier word for it.

Moreover since other FG instruments e.g Treasury bills havent had such delays, I really don't think there any need for panic.

yungestmoney:
Good evening house,
When is the next Treasury Bill auction?

I believe it's this week.

Has GTB been smooth on bids?
Which bank is recommended?

efismikoko:


Haha you that almost dashed us HBP with your comments 😂😅

Lol. CBN and CsCs are in charge so they gotta keep the printers on. 😃😃. It's all naira.

yungestmoney:
Has GTB been smooth on bids?
Which bank is recommended?

STANBIC and First bank. Have had good thingy with them

Federal government don finally pay coupon for the saving bond 🤸‍♂️🤸‍♂️🤸‍♂️🤸‍♂️🤸‍♂️

yungestmoney:
Good evening house,
When is the next Treasury Bill auction?

Wednesday Sept 25, 2024

Nero4306:
Federal government don finally pay coupon for the saving bond 🤸‍♂️🤸‍♂️🤸‍♂️🤸‍♂️🤸‍♂️

Hope you go share give us too

aieromon:


https://nairametrics.com/2024/09/24/breaking-cbn-raises-interest-rate-by-50-basis-points-to-27-25/

Hope it will reflect in the next primary auction.

Hello everyone. I want to invest in FGN treasury bill. I currently reside abroad. Please, is it safe to invest and which platform will you advise? Thanks.

Plus10:

Hope it will reflect in the next primary auction.

It will not.
They are trying as much as possible to discourage borrowing money from banks by making it expensive but then, it will slow down economic growth.
On the other hand, they are also discouraging people from investing in TB by lowering the coupon.
Aim and objective - for people to bring out hiding money to invest in physical business in the country to boost economy.
How effective this will be, we will see

When is the next TB primary auction ?

aieromon:


https://nairametrics.com/2024/09/24/breaking-cbn-raises-interest-rate-by-50-basis-points-to-27-25/

Hmm. Surprised they still increased it. At least inflation seems to be slowing down

emmaodet:


It will not.
They are trying as much as possible to discourage borrowing money from banks by making it expensive but then, it will slow down economic growth.
On the other hand, they are also discouraging people from investing in TB by lowering the coupon.
Aim and objective - for people to bring out hiding money to invest in physical business in the country to boost economy.
How effective this will be, we will see

Hmm.

alezzy13:


Hmm.

Understand the changes in monetary policy announced by the Central Bank of Nigeria (CBN) on September 24, 2024.

1. Benchmark Interest Rate (MPR):
The Monetary Policy Rate (MPR) was increased from 26.75% to 27.25%, a rise of 50 basis points (0.5%).

Example: If a bank was borrowing from the CBN at 26.75%, they will now borrow at 27.25%. This increase aims to control inflation by making borrowing more expensive, which can slow down economic activity and reduce inflationary pressures.

2. Asymmetric Corridor:
The asymmetric corridor of +500/-100 basis points around the MPR was retained.

Example: With the new MPR at 27.25%, this means:
- The upper limit for lending is MPR + 500 basis points = 27.25% + 5% = 32.25%
- The lower limit for deposits is MPR - 100 basis points = 27.25% - 1% = 26.25%
Banks can lend to each other within this corridor.

3. Cash Reserve Ratio (CRR) for Commercial Banks:
The CRR for commercial banks was increased from 45% to 50%, a rise of 500 basis points (5%).

Example: If a commercial bank has total deposits of ₦1 billion, they previously had to keep ₦450 million with the CBN. Now, they must keep ₦500 million. This reduces the amount of money banks can lend out, potentially slowing down economic activity and inflation.

4. Cash Reserve Ratio (CRR) for Merchant Banks:
The CRR for merchant banks was increased from 14% to 16%, a rise of 200 basis points (2%).

Example: If a merchant bank has deposits of ₦1 billion, they previously had to keep ₦140 million with the CBN. Now, they must keep ₦160 million.

5. Liquidity Ratio:
The liquidity ratio was retained at 30.00%.

Example: Banks must continue to maintain 30% of their deposits in liquid assets. For instance, if a bank has ₦1 billion in deposits, they must keep ₦300 million in easily convertible assets like cash, short-term government securities, or other highly liquid investments.

These policy changes generally indicate a tightening of monetary policy. The CBN is likely trying to combat high inflation by reducing the money supply and making borrowing more expensive. This can slow down economic activity but help stabilize prices and the value of the currency.

As you can see, they are making borrowing money from banks to manufacturers, SMEs and others very expensive and unprofitable because you can't borrow money from banks let's say 32% and make any tangible profit.
What is even the profit margins of most manufacturing companies after salary, tax, debt repayment and so many other things.
For the few ones that can endure it, they will literarily be working for the banks and not themselves.
Even the cash reserve ratio means banks can only borrow people and companies only just 50% of what they have left from previous 55% which means squeezing the banks more.
Out of the remaining 50% sef to borrow people, another 30% liquidity ratio which means they are forced to invest in TB and bonds. Again squeezing out the cash in the economy for expansion and manufacturing.
So we have virtually 20% cash left for 200m plus Nigerians to fight for at an expensive rate from the banks because they will only loan it to the highest bidders anyway.
Which brings me to the question -
If you are discouraging manufacturers thereby reducing production, some even close up due to loan defaults and layoff, how you want take grow economy when people are been thrown into more hardship and unemployment.
This type of economic move still dey baffle me.
Anyway, I didn't graduate from Cambridge or hold an MBA, so I will leave that to exparts or professionals in that sectoe

My March 2036 FGN Bond coupon was paid yesterday (5 days late but the additional 5 days interest was paid ). Time to compound

You are spot on (on point) never mind not having an MBA

emmaodet:

Which brings me to the question -
If you are discouraging manufacturers thereby reducing production, some even close up due to loan defaults and layoff, how you want take grow economy when people are been thrown into more hardship and unemployment.
This type of economic move still dey baffle me.
Anyway, I didn't graduate from Cambridge or hold an MBA, so I will leave that to exparts or professionals in that sectoe

Ikmontana1:
i invested 8,95 at 19%, 289 days on the 27th of August last month, First Bank.

i investment the interest paid upfront too with the main investment, i didn't collect any interest

I went to the bank today for Full Termination of the investment, and i was told i will be paid 8 in return.

i.e 23 loss in less than 2 weeks

that i was charged based on the current discounted rate

Am really confused.

please help

someone asked u the orugjnal amount u invested u said u invested everythjng that does not answer the questiin. that person asked cos of some reasons. example u invest 8m and was paid 900k as interest. then u invested that interest. if u terminate before time, u will loose money from that 900k interest becaise u did not wait till matirity. u will only earn for the number of days u left tje money. Then other administrative fees will apply.

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