ukay2:




My oga feelamong.....

Pls help me answer these questions...

Hope fidelity securities ltd are reliable and how long have u use them?
How can I transfer my stocks from investment one firm to fidelity securities?
How much is their custodian and transfer fees.?
How much is their opening account ?

Is NTB bidding for 365 days come 3/9/2015?


Should I buy access bank shares now or I should wait till Thursdays next week for the share to fall down to maybe 4.0 naira?

Thanks my oga.
Waiting for your prompt response.

feelamong:


i have always said here that i use an investment banking fiorm for my transactions...

i just call them up and tell them i want to buy Tbills anytime i have funds or friends that i help to invest..

i doubt anybank will give you such rates....these guys are mean! but the discount houses have a way round the banks!

moreover you can ask the investment house to use any Custodian you so desire..

Chillis:


Before you move your funds, try and compare the basics.

Most of these investment houses have their own %. I think 0.05% or so and how long you will be investing.
By the time, you move your funds, charges , tax etc... will you be on the positive or negative?

Most banks their secondary markets are even better than the primary.

I know I got a better offer from the last secondary market than if I were to take the primary option.

Chillis:


Before you move your funds, try and compare the basics.

Most of these investment houses have their own %. I think 0.05% or so and how long you will be investing.
By the time, you move your funds, charges , tax etc... will you be on the positive or negative?

Sometimes, Most banks their secondary markets are even better than the primary.

I know I got a better offer from the last secondary market than if I were to take the primary option.

ukay2:



OK. I want 365 days NTB come September 3rd...

what of the access bank shares question I asked.?

thanks

ukay2:




My oga feelamong.....

Pls help me answer these questions...

Hope fidelity securities ltd are reliable and how long have u use them?
How can I transfer my stocks from investment one firm to fidelity securities?
How much is their custodian and transfer fees.?
How much is their opening account ?

Is NTB bidding for 365 days come 3/9/2015?


Should I buy access bank shares now or I should wait till Thursdays next week for the share to fall down to maybe 4.0 naira?

Thanks my oga.
Waiting for your prompt response.

unite4real:


I understand the charges are lower when you use a bank compared to the investment houses.

unite4real:


What are the benefits that an investor can get by investing in the Government Securities?
Benefits of short term securities (i.e. Nigerian Treasury Bills)are: Yield / Income on investment is realizable upfront and can be automatically reinvested for a higher income. Yield / Income on investment is competitive with returns on other money market instruments of similar maturities. The securities have zero-default risk. Yield/Income on investment is tax-free. The securities can be used as collateral for short-term borrowing from banks. They are bearer securities and negotiable. Benefits of long-term securities are: Could serve as collateral for borrowing, Interest is paid half-yearly, It can be traded on the stock exchange and Investment has a zero-default risk.

This was from CBN website FAQ on Government securities.

http://www.cenbank.org/FAQS/FAQ.asp?category=Government+Securities

feelamong:


i have used them for most of my investments in stocks and TBills...

the custodian fee has been set by CBN..its 0.1% of the face value of the transaction (based on no of days)

i bought Access bank shares today.... its purely a speculative bet!

Royal155:
Have you invested in treasury bill before? And if you have, so custodian fee was not deducted from your interest abi?

Stop talking as if nothing will be deducted abeg!

unite4real:


What are the benefits that an investor can get by investing in the Government Securities?
Benefits of short term securities (i.e. Nigerian Treasury Bills)are: Yield / Income on investment is realizable upfront and can be automatically reinvested for a higher income. Yield / Income on investment is competitive with returns on other money market instruments of similar maturities. The securities have zero-default risk. Yield/Income on investment is tax-free. The securities can be used as collateral for short-term borrowing from banks. They are bearer securities and negotiable. Benefits of long-term securities are: Could serve as collateral for borrowing, Interest is paid half-yearly, It can be traded on the stock exchange and Investment has a zero-default risk.

This was from CBN website FAQ on Government securities.

http://www.cenbank.org/FAQS/FAQ.asp?category=Government+Securities

feelamong:


hahaha.....we want to make money..how we go dey offer them money again?

na negotiation skills bro!

also use good firms that would like to see you succeed

ukay2:




My oga feelamong.....

Pls help me answer these questions...

Hope fidelity securities ltd are reliable and how long have u use them?
How can I transfer my stocks from investment one firm to fidelity securities?
How much is their custodian and transfer fees.?
How much is their opening account ?

Is NTB bidding for 365 days come 3/9/2015?


Should I buy access bank shares now or I should wait till Thursdays next week for the share to fall down to maybe 4.0 naira?

Thanks my oga.
Waiting for your prompt response.

quertyquack:
I know you didn't ask me and perhaps I should be minding my own business. However, investment decisions are best made after a lot of PERSONAL investigation. Don't bank on what someone says. Train your instincts, you'd be better for it.

princeuk21:
u sure?? ??

Royal155:
Trial will convince you, not copy and paste

Chillis:


I wouldn't buy any nigerian shares. That's just me.

Either I invest in TB until I'm sure of some other profitable biz or real estate investment to do.

Nigerian shares only the inner cabals know when to reap profit off people.

That's just me sha.

Royal155:
Have you invested in treasury bill before? And if you have, so custodian fee was not deducted from your interest abi?

Stop talking as if nothing will be deducted abeg!

feelamong:


its not true..

they only charge the usual custodian fee and transaction fee

ukay2:
My oga feelamong and other NTB gurus,

please can I have a link for 4th quarter NTB programme calender?

ukay2:
My oga feelamong and other NTB gurus,

please can I have a link for 4th quarter NTB programme calender?

osile2012:
Hello people i have been following this thread and its been quite informative. Please i will like to know if the rates on treasury bills are static.
Assuming i buy TB of 1mill for 91days at 10% is it possible that i dont get the exact 25k expected at the end of 91 days due to reduction in interest rate ?.

freeman67:


After the auction and your bank or investment house is successful, they'l take the fund and return the interest to ur account...at the expiration of that 91days the face value of ur investment is what will be paid back to you.

Meaning if you invest 1 mill.. And ur bid at 10% is successful, they'll take 975k and refund you 25k then after 91 days they'll pay you back 1mill.

Note: From the 25k I'll pay small amount for Custody fee and transaction fee.

My little contribution

NairaQuest:


If that is how you guys treat it in Nigeria, then you are not following international Accounting Standards.
Treasury bills are issued at discount and redeemed at par. This means that if you buy a 100,000 TBill with a yield of 10%, you will pay 90,000 on settlement day but on maturity you will receive 100,000
That does not constitute up front interest payment. According to International Accounting Standards Board, the IFRS treatment is that you Debit Investment Account with 90,000 and credit Cash with 90,000 when you purchase the TBill but on maturity you credit Investment Account with 90,000, credit Interest Income with 10,000 and Debit cash with 100,000. This means that interest on a TBill is reported when sold or at maturity whichever comes first but not on an accrual basis.


If this is not what is done in Nigeria, then ICAN needs to change the accounting principles

quertyquack:
You will not be credited with interest. The balance left in your account is the interest. Spend some time to read the earlier posts. It's free.

motherlode:

the total amount i invested was 100K and i don't know why i was debited that same amount, i thought the interest will be left in my account but no it wasn't?

quertyquack:
Oh, I see . Contact your account manager or bank branch asap.

okeyjames:

Bros neither IAS 39 nor IFRS 9 specifically states how banks should handle treasury bills. But it is common knowledge that treasury bills are bought at a discount and interest is paid upfront. Read and understand the accounting standards before you misquote.

motherlode:

the total amount i invested was 100K and i don't know why i was debited that same amount, i thought the interest will be left in my account but no it wasn't?