Please when is the next bidding? And how good is firstbank?

Pls, I will like to know what TB rates in the recent past with Ecobank, because I av an investment (Fixed Deposit) with the bank at 10.75%, But every now and again I discuss TBills with my account officer she always confuse me that Fixed deposit is better, and I believe all this is for her own advantage, Pls house, I will like to know the past rates. Thanks

zub:
Please when is the next bidding? And how good is firstbank?

November 17

tundebabzy:

November 17

thanks

pls can any one really tell me how this things are sold. please.... I need to know more and plan for it



(1) tbill
(2)shares
(3)bonds


tanks

tokuboeric:
Pls, I will like to know what TB rates in the recent past with Ecobank, because I av an investment (Fixed Deposit) with the bank at 10.75%, But every now and again I discuss TBills with my account officer she always confuse me that Fixed deposit is better, and I believe all this is for her own advantage, Pls house, I will like to know the past rates. Thanks

This is beyond this forum. I will suggest you liaise with your Banker or contact them for more enquiries. I also have investment with them (Fixed Deposit) and thee rate is kinda cool.

tokuboeric:
Pls, I will like to know what TB rates in the recent past with Ecobank, because I av an investment (Fixed Deposit) with the bank at 10.75%, But every now and again I discuss TBills with my account officer she always confuse me that Fixed deposit is better, and I believe all this is for her own advantage, Pls house, I will like to know the past rates. Thanks

My last bid was at the rate of 17.8% for 364 days with Eco

tokuboeric:
Pls, I will like to know what TB rates in the recent past with Ecobank, because I av an investment (Fixed Deposit) with the bank at 10.75%, But every now and again I discuss TBills with my account officer she always confuse me that Fixed deposit is better, and I believe all this is for her own advantage, Pls house, I will like to know the past rates. Thanks

u're been deceived by that acct officer.

Tbills is better by far any day any time.

tokuboeric:
Pls, I will like to know what TB rates in the recent past with Ecobank, because I av an investment (Fixed Deposit) with the bank at 10.75%, But every now and again I discuss TBills with my account officer she always confuse me that Fixed deposit is better, and I believe all this is for her own advantage, Pls house, I will like to know the past rates. Thanks

u're been deceived by that acct officer.

Tbills is better by far any day any time.

The last bid rate for 365 days was 18.5%(cbn)

tokuboeric:
Pls, I will like to know what TB rates in the recent past with Ecobank, because I av an investment (Fixed Deposit) with the bank at 10.75%, But every now and again I discuss TBills with my account officer she always confuse me that Fixed deposit is better, and I believe all this is for her own advantage, Pls house, I will like to know the past rates. Thanks

your account officer doesn't want you to participate in t.bills because it doesn't count to her as the banker. you know these officers usually have target, so she is trying hard to keep you. last year mid December I wanted to pull out from fixed deposit once I reached maturity and move to mutual funds. then the rates were better but my account officer kept begging and persuading me not to pull out. insiting I keep the cash even for a month.
I got the clue that it seems he needed to account for it to give a full report for the year.
now I am now in t.bills, no going back to f.deposit except the rates go high tooo

To the gurus in the house. I salute oooo. I just bided at 13.5-14% for 91days with a face value of 1.5m. I hope I am good to go coz this is my first time. Any advise wld be welcomed.

Inflation rate now 18.33%

I should expect the market to price this in the next Auction...

feelamong:
Inflation rate now 18.33%

I should expect the market to price this in the next Auction...

Please I called GTbank now and they instructed me to speak with my account officer, which I complied. After putting a call through to him, he told me they are gonna bid today for those that have make the request. That I have to wait for the next 2 weeks. Please what can I do? I really need to bid this week.

Ask him to bid for u on secondary market

Rizin:
Ask him to bid for u on secondary market

Thanks so much, I just called him back. He said he will advice me to wait till the next bidding cos secondary market rates are always on the low side. He even helped me to check the next bidding date and he said the next one is coming on the 30th. Please does all bank have common days of bidding or I should try Eco bank as well?

Abbey1987:

Thanks so much, I just called him back. He said he will advice me to wait till the next bidding cos secondary market rates are always on the low side. He even helped me to check the next bidding date and he said the next one is coming on the 30th. Please does all bank have common days of bidding or I should try Eco bank as well?

Better wait as he advised u. because before u will finish the transfer, it might be late.

Pls nairalanders my brother just called me to inform me that I should cancel my fix deposit with skye bank saying is likely the bank fold up soon due to financial crisis. Pls how true is this? I have 500k as fixed in that bank.

The Nigerian Bureau of Statistics released its October 2016 inflation report today. Please find key highlights below;

· Headline inflation in October rose to 18.33% from 17.85% in September.

· Despite the harvest season, the Food Sub-index was up by 17.1% in October from 16.6% in September.

· While volatility in the FX market continues to impact imported food inflation, all items that contribute to the Food sub-index increased.

· Furthermore, the Core Sub-index continued to trend upwards, rising to 18.1% from 17.7% in September driven by higher housing, water and energy costs.

· The higher energy costs may not be unconnected to the +56.1% y/y spike in the average price of PMS and the +23.05% y/.y rise in the average price of Diesel to N145.90per litre and N187.25per litre respectively.

· On a m/m basis, price levels inched up by 0.83% in October from 0.81% in September.

· We highlight that the increase in the inflation figure was largely in line with Bloomberg consensus at 18.30%

Implications and Outlook

· While we see a gradual uptick in CPI till year-end, the headline figure should continue to moderate on a m/m basis.

· This in our view may see the MPR retained at 14% at the upcoming MPC meeting slated for the 21st - 22nd of November.

· Furthermore, as the Marco-economic environment remains fragile, a rate hike would likely be a negative, while a reduction in the benchmark rate would do little to spur growth as FX liquidity remains constrained.

· We also believe that the committee may be content with the current level of yields as it meets the objective of ensuring positive real return. However despite the higher yield and interest rate environment, foreign currency inflows remain uninspiring given investors’ concern on the opaque nature of the FX market.

· In addition, we do not foresee a negative reaction to the inflation number from market participants in the fixed income space given that the October inflation figure was largely in line with consensus estimates.

· Going forward, while we expect headline inflation to continue to rise y/y, it may be at a slower pace due to the higher base towards the end of 2015.

· However, the potential for a hike in the price of PMS remains, which may put upward pressure on headline inflation on a y/y and m/m basis.

XVIER:
Pls nairalanders my brother just called me to inform me that I should cancel my fix deposit with Skye bank saying is likely the bank fold up soon due to financial crisis. Please, how true is this? I have 500k as fixed in that bank.

Not true. It's one of those rubbish WhatsApp messages that people send. The CBN and NDIC would not allow that happen. The last thing Nigeria needs is a crisis of confidence. It is this type of nonsense that can create panic

olujaidi:


Not true. It's one of those rubbish WhatsApp messages that people send. The CBN and NDIC would not allow that happen. The last thing Nigeria needs is a crisis of confidence. It is this type of nonsense that can create panic

thanks so much for the info. God bless.

Abbey1987:

Please I called GTbank now and they instructed me to speak with my account officer, which I complied. After putting a call through to him, he told me they are gonna bid today for those that have make the request. That I have to wait for the next 2 weeks. Please what can I do? I really need to bid this week.

If you have a First Bank account, you have between now and 12noon tomorrow 15th November 2016 to place your bid for Treasury Bill.

olujaidi:


Not true. It's one of those rubbish WhatsApp messages that people send. The CBN and NDIC would not allow that happen. The last thing Nigeria needs is a crisis of confidence. It is this type of nonsense that can create panic

I fixed the money for 6 months this is the 2nd month now have not recieve any interest. Is it that they are to deposite my money together with my interest when the 6 month elapse?

XVIER:
I fixed the money for 6 months this is the 2nd month now have not recieve any interest. Is it that they are to deposite my money together with my interest when the 6 month elapse?

The interest portion will be credited into your account at maturity.

You should have opted 30 days rollover if you wanted monthly interest but the total interest payable would have been lower.

40manlappy:


The interest portion will be credited into your account at maturity.

You should have opted 30 days rollover if you wanted monthly interest but the total interest payable would have been lower.

thanks a lot, you've been helpful.

manie:
If you have a First Bank account, you have between now and 12noon tomorrow 15th November 2016 to place your bid for Treasury Bill.

thanks so much for the info... Seems I will have to open an account with first bank soonest.

40manlappy:


The interest portion will be credited into your account at maturity.

You should have opted 30 days rollover if you wanted monthly interest but the total interest payable would have been lower.

thanks a lot

XVIER:
I fixed the money for 6 months this is the 2nd month now have not received any interest. Is it that they are to deposit my money together with my interest when the 6 months elapsed?

Interest on fixed deposit is usually paid at the end of the tenor.In your case, after 6 months, the principal and interest will be paid together

olujaidi:


Interest on fixed deposit is usually paid at the end of the tenor.In your case, after 6 months, the principal and interest will be paid together

thanks a lot, you've been helpful.

With the increased inflation I think it's safe to stick with last auction rates or maybe even go a little bit higher. What do you guys think?