ceelog:
Greetings guys am a newbie but am interested in investing in TBills. I just came out of Accessbank, Nsukka and they are offering 15% for 108days and 17.2% for 297days. The manager said no primary bidding. Do I look for another bank or keep insisting?

buchio7:


don't mind them... primary bidding always occurs....it could be that you came after the deadline had lapsed...(had similar issue with Standard Chartered)..

but I still waited till the next auction round and bidded via the primary market.....so my advise is for you to wait for the next auction cycle in 2 weeks (try and go on the Monday b4 the bid as early as 10am)

inze:


. . . 400k will be credited to you at Maturity. Your interest has already been paid upfront. It is more likely you went with "bank rate" which is why you got 16.7% which to me is not a bad deal but you should note that the percentage is at per/annum basis and the only way you'll arrive at that 66.616 profit is if you had put in your bid for 365days.

mkmyers45:
What is the minimum one can invest for the T-Bills?

freeman67:
I saw the post below from Nairaland stock thread..
by peterichy
http://abokifx.com/cbn-sell-n123bn-t-bills-tomorrow/
The Central Bank of Nigeria plans to sell N123billion worth of Treasury bills.
Data obtained from the CBN website showed that it will auction N91 days bill at 13.5 per cent worth N45.18billion, N182 days bill at 16.8 per cent worth CBN to sell N123bn T-
bills tomorrow N23.4billion and N365 days bill at 17.5 per cent worth N54.4billion.

michael03:


Dis shuld not be tru ooo cos is low,i bided 18 for 364 days nd 17 for 182 days ooo

qizick:
Got debited by first bank with out upfront interest which is strange to me cos I always do my TB with Diamond bank wen are my expecting my interest

qizick:
no reply nawaooo

drealj:
I bided for 17.05 for 364 yesterday,is it a good deal or bad and when are they going to debit my account

freeman67:


That's why I posted it with source so that anybody with contrary authentic info will disprove it.

feelamong:


The auction results would be out later today..

the rates quoted in that your link were spot rates for the Secondary markets on that date... it must have been gotten shortly before the OMO auction on Friday..

cos the rates went higher than that shortly after the OMO auctions

bumba1234:
Rates

180days- 17.50

365days - 18.50

slimtriggaman:

91 days

bumba1234:


91 days -14

bumba1234:
Rates
180days- 17.50
365days - 18.50

walexlo78:


Hi House,

Can you please reconfirm these rates especially the 365days. I have checked everywhere online but could not get the stop rates. I placed a bid of 18.4 for 365days at GTB and my Acct Mgr just called me now that it was not successful and offering me something from the secondary market. Is the CBN STOP rate really 18.5?

walexlo78:


Hi House,

Can you please reconfirm these rates especially the 365days. I have checked everywhere online but could not get the stop rates. I placed a bid of 18.4 for 365days at GTB and my Acct Mgr just called me now that it was not successful and offering me something from the secondary market. Is the CBN STOP rate really 18.5?

michael03:
Hello house,pls can I use my own rate to bid at gtb? Wil it b approved?so far is goin to less dan cbn rate? Or does gtb prefer to use their own rate for some1?thanks as u answer

godash:


Yes you can. I specified my rate with GTB as with many others here.

godash:


Yes you can. I specified my rate with GTB as with many others here.

GetPosted:
GTB has been very disappointing of late. Anyone received debit alert yet?