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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 walemadu: 2:00pm On May 18, 2015 |
just like betting. u lose more than u gain! nonsense! |
Re: Treasury Bills In Nigeria by Svelteb(f): 2:55pm On May 18, 2015 |
SCB, which bank is dat pls? pipz: |
Re: Treasury Bills In Nigeria by princeuk21(m): 4:41pm On May 18, 2015 |
motherlode:you are wlc and am here to help out |
Re: Treasury Bills In Nigeria by mrkels(m): 6:13pm On May 18, 2015 |
battleaxe: So your investment is 1M at 10% What would be deducted from your account when you give them a request to purchase the tbills would be 1,000,000-100,000 = 900,000 Then at maturity ie at the end of 364 days the money coming back to you account would be 1million. Their charge would then be collected from the 1million maturity value ie you ll get 0.125% of 1million =1,250 naira |
Re: Treasury Bills In Nigeria by pipz(m): 7:04pm On May 18, 2015 |
N battleaxe: Yes, yield is the interest earned and ur Bank is supposed to charged 0.125% off ur yield. Dats 0.125% off ur 100k interest |
Re: Treasury Bills In Nigeria by pipz(m): 7:08pm On May 18, 2015 |
mrkels: I don't know about any custodian fee on T bills. CBN requires u to charge only 0.125% off the yield. It takes one customer, just one customer to make a Bank sit up and stop treating thier customers unfairly |
Re: Treasury Bills In Nigeria by pipz(m): 7:08pm On May 18, 2015 |
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Re: Treasury Bills In Nigeria by pipz(m): 10:09pm On May 18, 2015 |
Svelteb: Standard chartered bank. Also note that the over 20 maturities I stated earlier are traded at the secondary market. New Bills are issued forthnightly and these just have 3 Diff. Tenures 91, 182 & 364 days. |
Re: Treasury Bills In Nigeria by Svelteb(f): 10:24am On May 19, 2015 |
kk, we gonna talk more on this pls pipz: |
Re: Treasury Bills In Nigeria by mrkels(m): 8:33pm On May 19, 2015 |
pipz: So what's the charge you talking about called? |
Re: Treasury Bills In Nigeria by mokset123: 2:02am On May 20, 2015 |
mrkels:I was at the bank today, I think they called it processing fee. But I will tell you the truth it seems most bankers aren't aware of how tbills work |
Re: Treasury Bills In Nigeria by olujaidi: 8:56am On May 20, 2015 |
pipz:[quote author=pipz post=33866155] Custodianship fee is legitimate. I read it in some CBN circular a while back. The circular is available on their website |
Re: Treasury Bills In Nigeria by Svelteb(f): 11:19am On May 20, 2015 |
hmm....? walemadu: |
Re: Treasury Bills In Nigeria by mrkels(m): 12:42pm On May 20, 2015 |
mokset123: I don't think there's a processing fee in any bank brother. And also all bankers are aware of how treasury bills work, they just don't want to acquire it for you because they are not the custodians of the funds and you know what that means, it means the deposit would not read for their branch and that can be disastrous. Rates available as at 20/05/2015 Tenure. Maturity Date. Rate 85. 13/08/2015. 10% 162. 29/10/2015. 12% 337. 21/04/2015. 12.3% |
Re: Treasury Bills In Nigeria by Seun(m): 12:54pm On May 20, 2015 |
The rates are crashing as expected. I will cry o. 2 Likes 1 Share |
Re: Treasury Bills In Nigeria by berexio1: 1:12pm On May 20, 2015 |
Seun:lol...it was expected... |
Re: Treasury Bills In Nigeria by Caracta(f): 1:34pm On May 20, 2015 |
I do not advise anyone to invest in treasury bills until the new government has settled down. A lot of things are crashing now. |
Re: Treasury Bills In Nigeria by Caracta(f): 1:35pm On May 20, 2015 |
pipz: Custodian fee is legitimate. It's so minute many investors do not notice it. |
Re: Treasury Bills In Nigeria by mokset123: 2:11pm On May 20, 2015 |
mrkels:well why I said they aren't aware is that, 1. When they calculated my upfront for a face value of 10 million at 9.8 % for 86 days. I was told I would be paid 230,904 naira as upfront. How is that possible |
Re: Treasury Bills In Nigeria by Svelteb(f): 2:38pm On May 20, 2015 |
Caracta:Good idea. |
Re: Treasury Bills In Nigeria by Svelteb(f): 2:47pm On May 20, 2015 |
Caracta:Caracta pls I need some clarifications...i'm gonna pm u pls acknowledge. |
Re: Treasury Bills In Nigeria by mrkels(m): 3:21pm On May 20, 2015 |
mokset123: they are very correct. 9.8÷100 times 10million = 980,000 980,000÷365 =2684.9315068493 That's your daily interest. Since your tenure is 86 days, then you multiply by 86 86 * 2684.931506849 = 230904.10958904 That's your upfront interest that would be paid to you Now note when you purchase, what would be deducted from your account would be 10,000,000 - 230904.1095890 = 9769095.890410 And then at maturity 10, 000,000 less the custodian charge would be paid back into your account. Hope it's clear enough?? Y r u going for 9.8 percent when you can get 10percent for 85days? Let's talk |
Re: Treasury Bills In Nigeria by Marpol: 3:23pm On May 20, 2015 |
When do you start counting the maturity date? Is it from the day your account was debited or from the day the auction held or from the day you received your TBN interest? |
Re: Treasury Bills In Nigeria by mrkels(m): 3:32pm On May 20, 2015 |
Marpol: Day your account was debited. |
Re: Treasury Bills In Nigeria by ikemefunam: 3:42pm On May 20, 2015 |
good day all. please i use to send my TB request to firstcontact via e-mail.but they currently rejected my request saying they only treat via the media for foreign residence only and am kind that is too busy and will not have time to go to bank during the week days.what can you advice i do? |
Re: Treasury Bills In Nigeria by Marpol: 3:47pm On May 20, 2015 |
mrkels: |
Re: Treasury Bills In Nigeria by mrkels(m): 3:54pm On May 20, 2015 |
ikemefunam: Have a chat with your account officer and send to him. If it's still futile then let's talk. |
Re: Treasury Bills In Nigeria by mrkels(m): 3:55pm On May 20, 2015 |
Marpol: Just calculate the tenure, add it to the day your account was debited. That is your maturity date. |
Re: Treasury Bills In Nigeria by mokset123: 3:59pm On May 20, 2015 |
mrkels:I am grateful for your insightful breakdown. But where my problem lies is that a friend of mine purchased tbills as at nov last year at 10% for 91 days With 9m. 8m was deducted while 1m was left as his upfront. So why has the yield dropped in a short period of time? |
Re: Treasury Bills In Nigeria by mrkels(m): 4:06pm On May 20, 2015 |
mokset123: That's how treasury bills works. It's the exact opposite of fixed deopsit when it comes to interest being paid. In treasury bills, interest / yield is paid upfront or immediately yoou purchase unlike in fixed deposits when you get interest paid at maturity. |
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