sanerugwei:


Its simple as visiting you bank and filing out the TB form or instructing your account officer thru mail to invest a certain amount from your account (usually) above 100k in any of the given tenures; 91days(3months); 182 days(6months) or 364 days(12months).
You can either go with the bank rate or quote your preferred rate. The rates vary based on tenure. Again the interests are prorated based on the tenure and you get paid upfront, while the bank deducts the discounted value, but upon maturity your full amount gets credited back to your account. A couple of other charges apply as well, like custodian fee and commission on interest.
Read the last three pages here to get idea of the prevailing rate, then quote one or two points below to be on the safe side, or glean rate from gurus here.
The stop rate for the last bid 91 days - 13.9% 182 days - 17.09% 364 days - 18.25%
Again take time to scan thru the pages here to get more insight on NTB.

Happy investing.

Thanks a lot sir

HazzanTazzan:


Thanks a lot sir

In addition, bidding takes place this week. So get in touch with ur bank

tunene66:


In addition, bidding takes place this week. So get in touch with ur bank

Actually bidding is done every other week, sometimes it may be done weekly, but more often than not its bi-weekly(every two weeks).
For the rest of this quarter bidding will be done every two weeks, next bid date is 20th October as per latest CBN circular on their website.

Hello d gurus in d house,pls I want to kno if my bank will automatically remit my mony into my account wen my tb investment is mature or wil I nid to go and apply for it to b paid into my account agan? Thanks

sanerugwei:


Actually bidding is done every other week, sometimes it may be done weekly, but more often than not its bi-weekly(every two weeks).
For the rest of this quarter bidding will be done every two weeks, next bid date is 20th October as per latest CBN circular on their website.

Im sorry for the wrong information I gave. Accept my apologies. I got d dates mixed up

tunene66:


In addition, bidding takes place this week. So get in touch with ur bank

I'm prepared to hit GTB tomorrow morning

I will be following you guys!!!

Please keep the up date coming, am near here, please what is the minimum one can buy TBills

N100K is the government's stipulated minimum. But some banks require higher (e.g. Zenith required N1m).

clementy117:
I will be following you guys!!!
Please keep the up date coming, am near here, please what is the minimum one can buy TBills

jumzite:
Hello house, am new in here but been reading this post ferventy, I finally decided to take the plunge and invest in Tbills with GTB for 91 days. I didnt specify the rate I wanted but i no just understand the math wey GTB do. Pls anyone who invested thru GTB for 91 days should enlighten me because I don't even know what percentage they bidded for, what their fee is and how dey do dere calculations. Thank You.
I also want to know which percentage is used for calculating the interest?, is it the CBN percentage or the percentage that the bank used to bid?

Use the excel-based calculator I created for NTB at the link below (on page 212) to back into what rate gets you the charges you've seen in your account. Note that GTB charges standard custodian fees, VAT on the custodian fee, and bank charge of N300

https://www.nairaland.com/878880/treasury-bills-nigeria/212#49454079

freeman67:


Response...


2. On Stanbic IBTC Tender Form the minimum amount written there is N100,000 and addition should be in multiple of N10,000.

Hope this helps.

Sir, I've seen this statement about multiple quite a number of times but I still don't know what it means, kindly expantiate.
Thanks

scarr:

Sir, I've seen this statement about multiple quite a number of times but I still don't know what it means, kindly expantiate.
Thanks

100k
110k
120k
130k

Just invest more than the minimum sum and you'll be fine

Ugmama:


oh! well you can still participate in the upcoming one. This time be prepared dear

How fa.. any alert yet?

michael03:
Hello d gurus in d house,pls I want to kno if my bank will automatically remit my mony into my account wen my tb investment is mature or wil I nid to go and apply for it to b paid into my account agan? Thanks

Please house answer this question cos I'm also interested .

Annalise:


How fa.. any alert yet?

not yet. i called the treasury bill officer she said she will let me know by this week when i should collect my certificate.

@feelamong , Are you still holding unto your 2020 Bonds? I plan on selling mine put half on T.B and also half on EQUITY for long term till 2020 , Am fedup on the hike in price of things Inflation and the effect on bonds before 2020...WHAT UR ADVICE? Help a confused Brother.

Tritri:
@feelamong , Are you still holding unto your 2020 Bonds? I plan on selling mine put half on T.B and also half on EQUITY for long term till 2020 , Am fedup on the hike in price of things Inflation and the effect on bonds before 2020...WHAT UR ADVICE? Help a confused Brother.

My FGN Bonds are not what I trade on....most times I buy the bonds to use the Coupons for targeted spending...

Moreover if I sell now, I will be making loses since I bought at 14.55% yield.

I still don't think it's a good time to do equities....would rather wait to enter in late November for the February/March sale off just before Year end results appear in late march

Thank U..was thinking if i sale and put in zenith or guaranty share till 2020..i will do better or maybe am just worried

michael03:
Hello d gurus in d house,pls I want to kno if my bank will automatically remit my mony into my account wen my tb investment is mature or wil I nid to go and apply for it to b paid into my account agan? Thanks

yes bro, your money is automatically credited into your account on the maturity date. You do not need to make any application for that to happen. I use fbn, and my last matured tbills was credited back to my account at about 9:11 am on the maturity date ( Sept 22nd).
The only exception to this is if you've instructed your bank to roll over the investment on maturity.
FGN has a credit rating of AA in my opinion.

godash:


Use the excel-based calculator I created for NTB at the link below (on page 212) to back into what rate gets you the charges you've seen in your account. Note that GTB charges standard custodian fees, VAT on the custodian fee, and bank charge of N300

https://www.nairaland.com/878880/treasury-bills-nigeria/212#49454079

Thank you very much

olujaidi:

100k 110k 120k 130k
Just invest more than the minimum sum and you'll be fine

Thanks Sir

I was at GTB to place a bid for the next auction. I was told by the bank staff that I cannot choose the rate myself. They said that I have to go with the 'CBN adviced rate'.
Anyone in the house done TB with GTB before? Are you able to choose your own rate or what they are saying is true?

please o house, how long does it take before your bank pay you interest and also give you certificate? Eco bank just dey dull me o

awesomeJ:

yes bro, your money is automatically credited into your account on the maturity date. You do not need to make any application for that to happen. I use fbn, and my last matured tbills was credited back to my account at about 9:11 am on the maturity date ( Oct 22nd).
The only exception to this is if you've instructed your bank to roll over the investment on maturity.
FGN has a credit rating of AA in my opinion.

wats the minimum investment in fbn? 100k or 1m?

Ugmama:
please o house, how long does it take before your bank pay you interest and also give you certificate? Eco bank just dey dull me o

ecobank is so annoying.

yak:


wats the minimum investment in fbn? 100k or 1m?

100k is meant to be the minimum across board.

Stanbic never bids successfully for 182 days. I think I will stop going with their rates. They always want me to invest in "alternative investments" whenever they are informing me that the bidding wasn't successful.

Oga feelamong...what's the outlook for next week?

whyniel:


100k is meant to be the minimum across board.

For sure, FBN takes bids from 100Gs upwards, but not all banks do. Zenith for instance would decline to place customer's bids that are below 1 mil.
For the person asking about how soon interest is credited. In June my interest alert came in at about 10:30am on the settlement date(the Thursday after the auction day). This last auction, it came in around 2:02pm.
Now my own question:
If you got a credit alert on one of your accounts for an amount paid in by a stranger, what would you do. Got such an alert today. The money isn't much though.

awesomeJ:

Now my own question:
If you got a credit alert on one of your accounts for an amount paid in by a stranger, what would you do. Got such an alert today. The money isn't much though.

Chai, this your question just re-opened a healed wound. I opened a new Bank account in May 2016, barely one week after opening the bank account, I collected the usual atm card with my balance reading N1,200 only. No one else had the details of the bank account except me so I wasnt expecting any deposit into the account.


The next day was a hot afternoon and I was having a nap all of a sudden my phone alerted me. I woke up and shockingly saw a credit alert of N237, 500 chei I screamed. I ran up quickly, I was confused on what to do for a few minutes. I thought who could have deposited such amount, no one came to mind because no one else had my new bank details.


I rushed out quickly wearing the back side of my shirt to the nearest ATM to withdraw the whole money chai I wont forget what Lagos traffic did to me that day. I was held in traffic for 16 minutes 39 seconds.


As soon as I got off the traffic, I ran faster than Usain bolt to the ATM machine to withdraw the whole N237K.
Immediately i slot in my ATM card, it was like someone was nearby watching to send another alert. To my surprise another alert came, i was excited with hope another N237K just entered.

Immediately I picked up my phone opened it, it was a debit alert for N237, 500

The Taxi man was already asking for his drop charge of N2000.
I stood still and couldn't movefor two minutes, I couldn't even explain what had happened to people around me wondering what could have gone wrong.

yak:

ecobank is so annoying.

they just returned back my money this evening o...Eco bank nawao

@ihavespoken, your post above's got my rib cracking. I actually just found out that the alert came in from MMM. A friend had registered me for it without my consent, and the alert I saw was like a welcome bonus. I got a call from this friend this evening.

1Segzy:
I was at GTB to place a bid for the next auction. I was told by the bank staff that I cannot choose the rate myself. They said that I have to go with the 'CBN adviced rate'.
Anyone in the house done TB with GTB before? Are you able to choose your own rate or what they are saying is true?

I did specify my bid rate with GTB for the Sept 21st auction. I simply called then emailed my instruction to their Plaza branch.

Also, I had more than the face value (but less than the total upfront payment including fees) in my account effectively re-investing the upfront interest at the same time. Won the bid and was debited the next day.