Bamz:


I really don't want to believe this.
Atimes, the customer care rep tells me to check the next day just to confirm it has been forwarded to my branch. These people have loads of work to execute. Next time, ask for the details of your account officer. Every Tuesday morning, before the Auction, call to confirm.

It's better not to assume anything.

I guess that's what I will be doing from now since I have my account officer's contacts. I too don't want to believe that she purposely forgot to send it since I've placed several successful bid with the bank.

Chillisauce:

At bolded, of cos they do. But be rest assured all of them are after the profit they will make from your money.
Bankers and politicians are the same. Where do you think they get their profit from if not from their customers

sammily:

I guess that's what I will be doing from now since I have my account officer's contacts. I too don't want to believe that she purposely forgot to send it since I've placed several successful bid with the bank.

please how do I even know my account officer. I think is better to go through them.

I have my suspicion because a day to the auction,I was called from the bank offering me 13.5% for a year and I quizzed why offering me that when I have a bid to buy from the primary market and till now no clue as to what happened to my bid.....I am in talk with another bank and if they offer me something better,I will move my fund and I will completely close my account because I just can't stand a bank sabotaging my interest because they want to make more profit than me....Pre-crisis era its possible for them but everybody serious and clever as regards their finances but this crooks still believe that you will allow them to swindle you as they want......Very pathetic bunch of crooks.....

Chillisauce:


Im sure it was. Actually the new bank officer told me she missed the auction but her colleagues told her to just sell the secondary market to me. She said she couldnt do that but had to call me to tell me.

Im now sure the previous bank officer always give me from secondary market as they made me not to specify on any rate, saying they all use the bank rate.

Very shameful act i tell you

Account officer is the worst....They will blindside you......

kaptinphilz:
please how do I even know my account officer. I think is better to go through them.

The bad thing is that this kind of profit is not going to the bank.....They make profit for themselves......Check their receipt sef?

Chillisauce:


At bolded, of cos they do. But be rest assured all of them are after the profit they will make from your money.
Bankers and politicians are the same. Where do you think they get their profit from if not from their customers

angelo82:
The bad thing is that this kind of profit is not going to the bank.....They make profit for themselves......Check their receipt sef?

I always tell people to make friends with their bankers (account officers) lawyers and doctors.....

it will always save you a whole lot of trouble!

I have not had any issue dealing with my account officer...always remember to buy them things too..(chopping alone no dey good)

Wrong advice!Maybe you see these people face to face and that might work......I have sent money to account officers many times and they only end up misbehaving like you owe them except one which is a guy that really helped me and he appreciated the gift....I gave him just 40k and he was very happy but one of the girls got him fired....The girls I can't understand them....Once you give them gift so that they can have your interest at heart,they will start misbehaving and may also see you as a fool......So I decided to deal with the banks directly without paying anyone anything.....Thats my own horrible experience from some banksters.........

feelamong:


I always tell people to make friends with their bankers (account officers) lawyers and doctors.....

it will always save you a whole lot of trouble!

I have not had any issue dealing with my account officer...always remember to buy them things too..(chopping alone no dey good)

I guess some banks are just more professional than some others . You have no obligations whatsoever to buy gifts for anyone.
If you don't like the way things are being handled at your Branch, go through the head office.

The relationship here should be symbiotic in its simplest form.

angelo82:
No way!They can't frustrate me because they know how hard I can go on them......I will wait till auction but if they will give me 14% for 365days,I can accept because I don't like to waste time.....Banks are very greedy............

Remember when i told you that the bank might frustrate you after they give you a rate that you turned down and i advised that you move your fund to another bank but you declined.

see exerpts below.



unite4real:


please dont accept. they are selling to you from their books. or better still ask them to give you at 14.5% which i think is fantastic deal else, you wait till next auction but the bank may frustrate you during the auction if you peg a bid rate with them.

i will advice you use another bank.

Sad but true........I am thinking of taking a harsh step,I mean legal step......

unite4real:


Remember when i told you that the bank might frustrate you after they give you a rate that you turned down and i advised that you move your fund to another bank but you declined.

see exerpts below.



unite4real:


please dont accept. they are selling to you from their books. or better still ask them to give you at 14.5% which i think is fantastic deal else, you wait till next auction but the bank may frustrate you during the auction if you peg a bid rate with them.

i will advice you use another bank.

Thanks house. My bid was successful with first bank

[color=#990000][/color]Hello house!Please I really need some schooling on this treasury bills of a thing. I hear you all talking about bids and all that. And from little gatherings I see that this is through the primary market,right?My question is how can I invest through the primary market?through my bankbecause when I mailed my bank concerning investing in T-bills and the interest rate they gave me the interest rates. But this is the secondary market,right?...they gave me something like this
TENURE (DAYS)      MATURITY DATE                  RATE (%)      
 87                          14 -May-2015                         10.50%
129                         25 -Jun-2015                          12.50%
 ...Now going for something like this is investing through the secondary market ,right? If so then how can I invest through the primary market,since I get d opportunity of bidding my interest rate. I hear things like account officers. Are these the agentsare they paid by the investor or its just something done on behalf of the Bank like an already paid service or something??...and these account officers are found in banks...

...Plus,I hear the issue of the T-bills is offered at a discount and at the end of the day U are paid the face value...My question on this is,‘is this exclusive of the interest that would be paid upfront?..i.e apart from the interest received on the principal one also gets the benefit of d difference btw. the discounted purchase rate and the full face value received at maturity. If this is not so pls I need some serious schooling before I go investing in T-bills. Pls I need a response on this don't mind the length of this..I might not just be skillful at expressing myself in a clear and concise way...my bad..thanks
N.B even if u cannot answer all the qstns at least the ones u know share with me and others too will contribute their answers...that way all my questions will b answered ...but If u can answer all in one stretch no qualms that'll be ok

cee001:
[color=#990000][/color]Hello house!Please I really need some schooling on this treasury bills of a thing. I hear you all talking about bids and all that. And from little gatherings I see that this is through the primary market,right?My question is how can I invest through the primary market?through my bankbecause when I mailed my bank concerning investing in T-bills and the interest rate they gave me the interest rates. But this is the secondary market,right?...they gave me something like this
TENURE (DAYS)      MATURITY DATE                  RATE (%)      
 87                          14 -May-2015                         10.50%
129                         25 -Jun-2015                          12.50%
 ...Now going for something like this is investing through the secondary market ,right? If so then how can I invest through the primary market,since I get d opportunity of bidding my interest rate. I hear things like account officers. Are these the agentsare they paid by the investor or its just something done on behalf of the Bank like an already paid service or something??...and these account officers are found in banks...

...Plus,I hear the issue of the T-bills is offered at a discount and at the end of the day U are paid the face value...My question on this is,‘is this exclusive of the interest that would be paid upfront?..i.e apart from the interest received on the principal one also gets the benefit of d difference btw. the discounted purchase rate and the full face value received at maturity. If this is not so pls I need some serious schooling before I go investing in T-bills. Pls I need a response on this don't mind the length of this..I might not just be skillful at expressing myself in a clear and concise way...my bad..thanks
N.B even if u cannot answer all the qstns at least the ones u know share with me and others too will contribute their answers...that way all my questions will b answered ...but If u can answer all in one stretch no qualms that'll be ok

you do have lots of questions. the best is to go through this thread from the beginning. you will find useful information.

debbydee:
Thanks house. My bid was successful with first bank

Please what was the rate at FBN and for what tenure?

sammily:


Please what was the rate at FBN and for what tenure?

Dear xxxxx
We wish to inform you that your bid for a Treasury Bill of xxxxxxxx with reference number 146150200684 was successful. Full details below 

Ref. Code146150200684Principal.xxxxxxx Rate13.45%Tenor182 DaysBid Date2/19/2015Maturity Date8/20/2015

Thank you for choosing FirstBank.

Desanta:


Dear xxxxx
We wish to inform you that your bid for a Treasury Bill of xxxxxxxx with reference number 146150200684 was successful. Full details below 

Ref. Code146150200684Principal.xxxxxxx Rate13.45%Tenor182 DaysBid Date2/19/2015Maturity Date8/20/2015

Thank you for choosing FirstBank. 

I may have to switch my account to First Bank but their requirement for opening account is too much..........My own bank never send a mail alert for investment in Treasury Bills..............You will have to ask them before you get things done......All because they always do Magomago...........

angelo82:




I may have to switch my account to First Bank but their requirement for opening account is too much..........My own bank never send a mail alert for investment in Treasury Bills..............You will have to ask them before you get things done......All because they always do Magomago...........

LOL common atleast your statement of account reflects it.

Statement of account only reflects amount deducted from your account and not details of your investment like interest,tenor,e.t.c........

Bamz:


LOL common atleast your statement of account reflects it.

angelo82:
Statement of account only reflects amount deducted from your account and not details of your investment like interest,tenor,e.t.c........

Details? That can be deduced ofcourse. You chose your tenor so that's not even part of it.

I don't get your joke..........My point is that your investment receipt must stipulates all your investment details in full and not just debit on your account.....Princinpal amount,interest agreed,date of investment,maturity,interest amount,charges must reflect in your receipt......And your guys never sign on any investment receipt.......But in Europe,all contractual terms of your deposit will be stipulated....In 2004 when interest on deposit was 10% in Europe,I invested for two years and I was never bothered because they always do things the way it should be done without you asking any question.....I finally solved the issue with the bank and I was given 14.5% for 364days but the funniest part is after calculating all the deductions both bank commissions/custodial fees,I actually got 14% in real terms............

Bamz:


Details? That can be deduced ofcourse. You chose your tenor so that's not even part of it.

angelo82:
I don't get your joke..........My point is that your investment receipt must stipulates all your investment details in full and not just debit on your account.....Princinpal amount,interest agreed,date of investment,maturity,interest amount,charges must reflect in your receipt......And your guys never sign on any investment receipt.......But in Europe,all contractual terms of your deposit will be stipulated....In 2004 when interest on deposit was 10% in Europe,I invested for two years and I was never bothered because they always do things the way it should be done without you asking any question.....I finally solved the issue with the bank and I was given 14.5% for 364days but the funniest part is after calculating all the deductions both bank commissions/custodial fees,I actually got 14% in real terms............

Not bad.

angelo82:
I have my suspicion because a day to the auction,I was called from the bank offering me 13.5% for a year and I quizzed why offering me that when I have a bid to buy from the primary market and till now no clue as to what happened to my bid.....I am in talk with another bank and if they offer me something better,I will move my fund and I will completely close my account because I just can't stand a bank sabotaging my interest because they want to make more profit than me....Pre-crisis era its possible for them but everybody serious and clever as regards their finances but this crooks still believe that you will allow them to swindle you as they want......Very pathetic bunch of crooks.....

All these banks are the same. Sooner or later they show their true color. How long would you continue moving your funds.

I might consider writing to the branch manager while copying other people.
They sit up when you copy people in such case

Happy weekend guys,
I eventually spoke to the GTBank Investment officer who told me that the bank was unsuccessful with the 364-day bid due wrong bidding. Also made me understand that minimum for secondary market purchase with GTbank is actually 5 million Naira...I never knew as I had always purchased fresh issues at the bank's bid rate from primary market sale.
I'm considering opening a First bank acct before March 5th,all my plans and schemes for this week was just messed up by GT. From the little I've read here,it seems First bank peeps get it right all the time. No time O...

True and thats what I have done several times but I am tired of doing that.............Maybe is better to look for banks with core values concerning money market instruments..............I will be in Nigeria by the 3rd quarter of this year to re-arrange my accounts and put them all in one place......I can't keep troubling myself with banks like am bargaining hard in a local market.........I hope Nigeria will become better and hope CBN will regulate the issue of banks imposing rates on investors......

Chillisauce:



All these banks are the same. Sooner or later they show their true color. How long would you continue moving your funds.

I might consider writing to the branch manager while copying other people.
They sit up when you copy people in such case

I have never had the opportunity to open a first bank account but most of my family members have accounts with first bank and they have no complain.......But I have been investing in shares for very long time and surprised at their professional ethics....They give you not just what is due to you but what you deserve........I am thinking of moving all my account to them too.....They seem to frown more against unprofessional conduct......

Damolaskynov:
Happy weekend guys,
I eventually spoke to the GTBank Investment officer who told me that the bank was unsuccessful with the 364-day bid due wrong bidding. Also made me understand that minimum for secondary market purchase with GTbank is actually 5 million Naira...I never knew as I had always purchased fresh issues at the bank's bid rate from primary market sale.
I'm considering opening a First bank acct before March 5th,all my plans and schemes for this week was just messed up by GT. From the little I've read here,it seems First bank peeps get it right all the time. No time O...

unite4real:


you do have lots of questions. the best is to go through this thread from the beginning. you will find useful information.

ok thanks...I guess that is the only option I've got thanks

angelo82:
True and thats what I have done several times but I am tired of doing that.............Maybe is better to look for banks with core values concerning money market instruments..............I will be in Nigeria by the 3rd quarter of this year to re-arrange my accounts and put them all in one place......I can't keep troubling myself with banks like am bargaining hard in a local market.........I hope Nigeria will become better and hope CBN will regulate the issue of banks imposing rates on investors......

Ok. It's really sad.
The last time I wanted to convert some money from my USD account to Euro because of the oil crisis surge. My banker refused to pick my calls. I sent mail, copied the manager, they didn't respond . I somehow managed to do the transfer myself but it was installment due to some restrictions. After few days, they saw I moved my funds..both of them replied my past mails claiming to be on vacation, meeting...blah blah blah.

I said not to worry, I go soon close the acc.
They just want to hold on as much profit they can get from your money.

Chillisauce:


Ok. It's really sad.
The last time I wanted to convert some money from my USD account to Euro because of the oil crisis surge. My banker refused to pick my calls. I sent mail, copied the manager, they didn't respond . I somehow managed to do the transfer myself but it was installment due to some restrictions. After few days, they saw I moved my funds..both of them replied my past mails claiming to be on vacation, meeting...blah blah blah.

I said not to worry, I go soon close the acc.
They just want to hold on as much profit they can get from your money.

So sorry to hear this, even after you copied the Manager. That's not acceptable for any reason.

Branch managers are irresponsible pretenders.....They are in the know of all the malpractices going on in their branch and when you talk to them they act like they have no idea..........I really want to solve this problem because twice every year these people upset me and I really want to deal with their issue by finding a better solution that have less issues because you may not find the best solution so far is in Nigeria..........

Chillisauce:


Ok. It's really sad.
The last time I wanted to convert some money from my USD account to Euro because of the oil crisis surge. My banker refused to pick my calls. I sent mail, copied the manager, they didn't respond . I somehow managed to do the transfer myself but it was installment due to some restrictions. After few days, they saw I moved my funds..both of them replied my past mails claiming to be on vacation, meeting...blah blah blah.

I said not to worry, I go soon close the acc.
They just want to hold on as much profit they can get from your money.

sammily:


Please what was the rate at FBN and for what tenure?

i think 10.65 for 91days

Guys I want to place a bid with gtb but I heard minimum I can invest in 5 millions. I have 100k at a start. Which back can accept this in tb in primary market

Desanta:


Dear xxxxx
We wish to inform you that your bid for a Treasury Bill of xxxxxxxx with reference number 146150200684 was successful. Full details below 

Ref. Code146150200684Principal.xxxxxxx Rate13.45%Tenor182 DaysBid Date2/19/2015Maturity Date8/20/2015

Thank you for choosing FirstBank. 

Its seems First Bank is the answer , i wil work on that by Monday