Danfuster:


@ tritri, olujaidi, seunoni34

Anyone has experience with Eco bank cos that's where I have the most substantial savings, pls share
[/i]

ummitoagirl:
Ecobank actually gives it customers 3 recommended bid rates for each tenor, they usually go about .5% lower than the last stop rate to be safe. I go with the highest of their rates, which I won't know until 3 days before bidding takes place.
I only speculated with my %

olujaidi:


Personally, no.

However, it would appear she does:

Danfuster:



that's man, you've been really helpful. I sent you a pm, still waiting for you to reciprocate

Royal155:
I swear FIRST BANK is the best bank for this T.BILLS. I actually got %14.5 for 186days tenure. Oboi it pays to go with bank rate atimes, especially FBN.
I must lock down another fund next week. This easy money sweet i swear!

olujaidi:


This is all i got
"Hello olujaidi,

Danfuster would like to send you an email message, but since you're not connected, you'll need to contact Danfuster by replying this email."

And I replied

freeman67:


Yes it pays but you were just Lucky this time because other times there may not even debit you. There will leave your money in your account for you and with you would miss 2 weeks.

Danfuster:


You're definitely not alone on this, patiently waiting like a vulture for 4th August.

@ tritri, olujaidi, seunoni34

Anyone has experience with Eco bank cos that's where I have the most substantial savings, pls share


@feelamong. I've studied your pattern, tho I may be wrong but it seems you've never invested more than 182days, care to tell us why. It definitely would be beneficial to us.

Thanks

just2endowed:
Can one inform and direct ecobank to use my bid instead of their bank bid

ummitoagirl:

No, Ecobank wont use your bid rate, they will only accept from their recommended rates

ummitoagirl:

No, Ecobank wont use your bid rate, they will only accept from their recommended rates

just2endowed:


thanks for your response. But at the beginning of this thread, it was stated one can drop its rate and bid by him/herself. so guru and investors in the house, is it that one cannot choose his or her own bid rate? Please lets clarify this statement.

I intend to drop my rate

just2endowed:

thanks for your response. But at the beginning of this thread, it was stated one can drop its rate and bid by him/herself. so guru and investors in the house, is it that one cannot choose his or her own bid rate? Please lets clarify this statement.
I intend to drop my rate

ummitoagirl:
I usually do 182 days because I simply dont trust Nigeria!...a lot can happen in a year for me, I may need my money along the line, I did rather have 2 x 182 days. Off course, I do get tempted due to the %, but i tell myself, its only 1.5% difference between 182/364 days.

I bank from abroad with Ecobank, been very lucky to meet wonderful account managers!. Be careful, they will try and sell to you on the secondary market at lower rates, please emphasis what you want.

munezo:


The standard practice is for you to give the bank your rate but some banks prefers you to go with their rate. Some banks may even want to corner you to buy from them from the secondary market.

It is important to always tell them it is your rate and it is for the primary market bidding. Stanbic IBTC allows you to choose your rate or go with their rate if you wish.

just2endowed:


Thanks for your clarification. I ask this coz I was surprised on the attached the other nler send. And I remember my last year bid that despite writing my bid using ecobank, they still gave me less my bid. I called the manager since the officer was saying they decided not me.

The bank manager apologize and told me I have the right and that the modalities are different from normal bid. Anyway, I just want a Clarity

MrTour:
Hi, how sure are you about EcoBank not using your specified bid rate?

I intend to place a bid via them but I need to investigate further your comment to avoid me and them speaking the "do you know me grammar" lol.

Danfuster:


I knew there was a reasonable reason for that 182 days which I think is wise. I definitely would be going the same route, a year just seems too long for me too.

I see you shared a snapshot of stop rate/Eco bank recommended rate which was from 2014, pls share the link to that page, I'd like to see the stop rate for last bidding as well as their recommended rate. I want to make my move next month. This is actually going to be my first bid and I want to get it right.


Do you know if GT bank accepts ones bid rate, I'd like to bid through them... Hopefully they'll accept half a milli or slightly above.

Thanks

Danfuster:


I knew there was a reasonable reason for that 182 days which I think is wise. I definitely would be going the same route, a year just seems too long for me too.

I see you shared a snapshot of stop rate/Eco bank recommended rate which was from 2014, pls share the link to that page, I'd like to see the stop rate for last bidding as well as their recommended rate. I want to make my move next month. This is actually going to be my first bid and I want to get it right.


Do you know if GT bank accepts ones bid rate, I'd like to bid through them... Hopefully they'll accept half a milli or slightly above.

Thanks

Chukzyfcb:
Minister of finance, kemi-adeosun says the federal government plans to borrow funds from International Investors starting from the Third Quarter & with the new directives for bank to sell forex directly to BDCS. It seems further t.bills rate will ease down a little or remain stagnant coz domestic borrowing seems to be reaching its limit.
Seems its about time FG will entice the foreign Investors & attract that external Funds....just saying tho
www.businessnews.com.ng/2016/07/23/fg-to-start-international-borrowing-in-q3-adeosun/

feelamong:
Dear Feelamong,

Please find below NTB Auction result for July 20, 2016

Auction Date 20/07/2016 20/07/2016 20/07/2016

Allotment / Issue Date 21/07/2016 21/07/2016 21/07/2016

Tenor (91-Day) (182-Day) (364-Day)

Offer Amount (=N=) 36,786,994,000 39,175,905,000 52,000,000,000

Total Subscription (=N=) 52,081,526,000 85,067,822,000 255,237,914,000

Allotment (=N=) 36,786,994,000 39,175,905,000 129,000,000,000

Range of Bid Rates (%): 9.5000 – 17.0108 11.0000 – 18.6108 12.0000 – 21.0693

Stop Rates (%): 14.1400 15.4850 16.4800

ummitoagirl:
I receive the recommended bid rates in my inbox.
I am not familiar with other banks.

ummitoagirl:
I receive the recommended bid rates in my inbox.
I am not familiar with other banks.

Danfuster:








I do appreciate you taking out time to clarify some thing.

I think their is a fowl play somewhere, I compared the stop rate you got in your inbox with that which @feelamong posted, it seems Eco bank stop rate is a lot lower. I don't wanna point fingers yet

unite4real:


Domestic borrowing is still a function of Tbills maturities. Tbills mature every 2 weeks. In that manner, govt float auctions every 2 weeks and the money is used to settle the maturities. This is one reason this auctioning and payments go on in cycle.

Chukzyfcb:

Yea I agree with you. I'm just trying to correlate the news with the next direction of the rates. It seems to me to either be stagnant or bound to go southwards judging by her utterances.

ummitoagirl:
The issue with the 6 months is, the stop rate may not be as juicy!, you may need to be settling for like btwn 10-12% for 182 days next year. In a situation where the rates are doing very well, I may split my funds into 2... 90 & 182 days or 182 & 364 days!...I am still very skeptical about locking my funds down for a year though.