40manlappy:


Hi, what is the name of the app that you used to blot out your personal information in the document? Thanks

Draw on pictures
Downloaded from Android Play Store

Fynebouy:
Hi all, I have been reading this thread with passion because this year I must not be financially foolish. I must be supernaturally productive and na who no ask dey fall hand...

Please I currently bank with FBN, Eco, & GTB. Pease which of these are the best for TB purchase from the primary market. I am looking at N1.5M for 91 days.

Thanks for the response (s)

I think ppl mention GTB and FBN more frequently. Visit your branch and ask.
Good luck

Redalez:


Do you mean we should invest a lot? Or we should chose higher rates? I want to bid at 17.33 % for 182 days to play it safe this coming auction. Do you think this is a good idea?

Just think of it as buying for a long time. Long position actually means buying investment with anticipation that it will increase in value in the future.

I use FBN n d surprise me wit biddin 18.50% for 364 days. D told me to allow them bid their rate.

Fynebouy:
Hi all, I have been reading this thread with passion because this year I must not be financially foolish. I must be supernaturally productive and na who no ask dey fall hand...

Please I currently bank with FBN, Eco, & GTB. Pease which of these are the best for TB purchase from the primary market. I am looking at N1.5M for 91 days.

Thanks for the response (s)

Please, investment-minded folks, I have some questions gnawing on my mind for some times now which I have been repressing but I had to voice out following the unfortunate event of the supposed/purported failed bids of those who used Stanbic IBTC on the 5-1-17 TBs Offer :

* In which of those bids did Stanbic IBTC fail? Because I placed a 364-day bid which seemed to be unsuccessful too!
I went with Stanbic IBTC Rate.
Anyone with similar experience?
How about the 91-day & 182-day Tenor?

* Is there no way/platform/medium/forum for us to get intel or info on the details of transactions between Commercial Banks and CBN?

* How do we know or determine that the successful Bid Rate quoted for us by the banks is actually the true rate e.g if I'm told my bid is successful at 17.5% for 364-day Tenor and the calculations show so, how are we sure the bank didn't actually use 18.5% and are simply racketeering on the cash generated from this difference in rate which can be huge factoring in the cumulative capital base of numerous investors?

* If I specify my rate myself, what modus operandi obtains between CBN & my Financial House/Commercial Bank?
Do they bid separately for those who choose to go with their rates & those who specified their own rates?
How do they do it?

* Supposing an individual specified his/her own rate which falls in but the banks bid rate fails, what happens?
Will the individual's bid still be successful despite the bank's rate failing the bid?
What obtains in the reverse/converse scenario whereby an individual specifies bid that is above CBN offer range but the Bank's rate falls within?

* Do we have eagle-eyed bodies & institutions to protect individuals investors from the shylock banks who I have this knack & instinct for to be engaging behind closed doors in unwholesome lots of sharp practices?


Please, I'll appreciate responses Sirs & Mas

MOBBDEEP:
Please, investment-minded folks, I have some questions gnawing on my mind for some times now which I have been repressing but I had to voice out following the unfortunate event of the supposed/purported failed bids of those who used Stanbic IBTC on the 5-1-17 TBs Offer :

* In which of those bids did Stanbic IBTC fail? Because I placed a 364-day bid which seemed to be unsuccessful too!
I went with Stanbic IBTC Rate.
Anyone with similar experience?
How about the 91-day & 182-day Tenor?

* Is there no way/platform/medium/forum for us to get intel or info on the details of transactions between Commercial Banks and CBN?

* How do we know or determine that the successful Bid Rate quoted for us by the banks is actually the true rate e.g if I'm told my bid is successful at 17.5% for 364-day Tenor and the calculations show so, how are we sure the bank didn't actually use 18.5% and are simply racketeering on the cash generated from this difference in rate which can be huge factoring in the cumulative capital base of numerous investors?

* If I specify my rate myself, what modus operandi obtains between CBN & my Financial House/Commercial Bank?
Do they bid separately for those who choose to go with their rates & those who specified their own rates?
How do they do it?

* Supposing an individual specified his/her own rate which falls in but the banks bid rate fails, what happens?
Will the individual's bid still be successful despite the bank's rate failing the bid?
What obtains in the reverse/converse scenario whereby an individual specifies bid that is above CBN offer range but the Bank's rate falls within?

* Do we have eagle-eyed bodies & institutions to protect individuals investors from the shylock banks who I have this knack & instinct for to be engaging behind closed doors in unwholesome lots of sharp practices?


Please, I'll appreciate responses Sirs & Mas

Stanbicibtc claimed that it was not successful for 182 days tenor also at the auction of 5/1/2017. I wonder if they went for that auction at all.

As for your other posers, I posed the same question(s) on page 246 of this thread. I am beginning to doubt that stanbic. The other bank that I used last auction succeeded but stanbic which I used for the major bid at their own rate said it failed. I am giving them the last chance at the next auction before I determine my relationship with them.

2n2k:


Stanbicibtc claimed that it was not successful for 182 days tenor also at the auction of 5/1/2017. I wonder if they went for that auction at all.

As for your other posers, I posed the same question(s) on page 246 of this thread. I am beginning to doubt that stanbic. The other bank that I used last auction succeeded but stanbic which I used for the major bid at their own rate said it failed. I am giving them the last chance at the next auction before I determine my relationship with them.

.



I just found out recently that you can purchase Treasury Bills from the banks secondary market. If you can't wait for their fortnightly auctions. I walked into an FBN branch today and requested to speak to the officer that handles TB transactions. I found out they had offers like 280 days @18%, 364 days @ 18.1% and different other rates. Please note that the rates change on a daily basis. Access Bank also does the same thing. I advise you speak with your account manhger or better still, walk in and speak with some one there.

2n2k:


Stanbicibtc claimed that it was not successful for 182 days tenor also at the auction of 5/1/2017. I wonder if they went for that auction at all.

As for your other posers, I posed the same question(s) on page 246 of this thread. I am beginning to doubt that stanbic. The other bank that I used last auction succeeded but stanbic which I used for the major bid at their own rate said it failed. I am giving them the last chance at the next auction before I determine my relationship with them.

Thanks Brother
The question you raised is one of the one I asked too.
It's quite sad that we have not gotten a detailed response or rejoinder to them
yet.

sophie11:
.



I just found out recently that you can purchase Treasury Bills from the banks secondary market. If you can't wait for their fortnightly auctions. I walked into an FBN branch today and requested to speak to the officer that handles TB transactions. I found out they had offers like 280 days @18%, 364 days @ 18.1% and different other rates. Please note that the rates change on a daily basis. Access Bank also does the same thing. I advise you speak with your account manhger or better still, walk in and speak with some one there.

I appreciate your comment deeply.
I'm quite aware of the 2dary market.
My concerns there is that you may find it difficult to get the quantity you want.
2ndly, an inquisitive & reflective mind would likely think that the good rates of the 2dary market offer is a predictor of possible better or higher rates in the immediate next CBN offer.
Hence, the reluctance to purchase @ the 2dary market and hold on to the disposable cash for the next CBN auction.
I don't know if I made sense.

MOBBDEEP:
Please, investment-minded folks, I have some questions gnawing on my mind for some times now which I have been repressing but I had to voice out following the unfortunate event of the supposed/purported failed bids of those who used Stanbic IBTC on the 5-1-17 TBs Offer :

* In which of those bids did Stanbic IBTC fail? Because I placed a 364-day bid which seemed to be unsuccessful too!
I went with Stanbic IBTC Rate.
Anyone with similar experience?
How about the 91-day & 182-day Tenor?

* Is there no way/platform/medium/forum for us to get intel or info on the details of transactions between Commercial Banks and CBN?

* How do we know or determine that the successful Bid Rate quoted for us by the banks is actually the true rate e.g if I'm told my bid is successful at 17.5% for 364-day Tenor and the calculations show so, how are we sure the bank didn't actually use 18.5% and are simply racketeering on the cash generated from this difference in rate which can be huge factoring in the cumulative capital base of numerous investors?

* If I specify my rate myself, what modus operandi obtains between CBN & my Financial House/Commercial Bank?
Do they bid separately for those who choose to go with their rates & those who specified their own rates?
How do they do it?

* Supposing an individual specified his/her own rate which falls in but the banks bid rate fails, what happens?
Will the individual's bid still be successful despite the bank's rate failing the bid?
What obtains in the reverse/converse scenario whereby an individual specifies bid that is above CBN offer range but the Bank's rate falls within?

* Do we have eagle-eyed bodies & institutions to protect individuals investors from the shylock banks who I have this knack & instinct for to be engaging behind closed doors in unwholesome lots of sharp practices?


Please, I'll appreciate responses Sirs & Mas

firstly, does stambic allow one to chose their rate? If yes , u cn always gv ur rate, than going with bank rate. Secondly, certificate is being given, as evidence that you purchased a gov. bond. If you go with ur rate and it falls within the selected rates by CBN, while that of bank fails..it won't stop urs.

[quote author=MOBBDEEP post=52745028]

On your first question, you just cannot tell. Banks like stanbic are usually fair but some banks forces lower rate on their customers. Those banks will never allow you to bid on your own. So it just for you to have some level of trust or at least be ready to loose a fraction from CBN rate.

I was thinking its only their 182 days only that didn't go through that day..But now it seem to me that they bided higher across board...

Though I was angry that day especially because what they(stanbic) could come up with was a mere 14.5% for 195 for secondary market when CBN offered 17.5 for 182 days. However, if you want to compare them with other banks they are still very.

The next Monday after 5th, which was 9th.I called Diamond Bank and I was told they have 178 days at their secondary market for 16.5. I transferred my money from stanbic down then hurried down to the nearest branch where I was told they had no light at the moment. I was about transferring my funds to another bank through their app when AEDC brought back the light. I wrote the request and it was scanned and sent in my presence but as I am typing nothing has been done about it. I have gone back there, mailed them and even called their Customer care all for nothing. Tomorrow morning I will just transfer my money quietly. I will surely go back to stanbic when my vex reduce but I will never try Diamond Bank for any investment transaction again.

As for bidding with your own rate..If you had given them your rate and it falls within the CBN rate it would have been successful even though their rate is different. It didn't go because you accepted that they should bid for you. Other day you may bid yourself and your bid would not be successful too so its nothing unusual.

Also if you bid e.g 17% rate and the bank bid 18.5 and they succeed, you will only be entitled to your 17% ooo.

Winneygirl:

.
I don't see how Stanbic might want to frustrate customers.
.
I chose their rate at d previous auction. They bidded 17.49% and CBN stop rate was 17.5% for 182 days.
They must've gone a little higher in the hopes that the rates will go up.
.
Any bank that wants to frustrate its customers will choose very low rates.
.
It didn't work out this week for 182 days. It might at next auction. The bank is run by humans, and there's no telling what the CBN rates will be at next auction.

I understand they are humans too and once in a while things may not work out as calculated. I do both primary and secondary market stuff with them and I know how good their secondary rates have been.. In fact sometimes when stuff matures I go for the secondary market Immediately. However, after the primary didn't succeed, I got a call notifying me then in some 10 mins later got another call from them asking if I would want to subscribe in a secondary market for 195 days or so..at the rate of 14.5% when CBN rate was mor than 17 for 182.

I was really vexed with them that's why I said maybe they want to frustrate customers...because with my Kobo Kobo wey I dinvest with them..I d count myself as customer too...

freeman67:

Sweet response Sir
I'm not the long-throat type
I'd have taken 18.5% for the 364-day Tenor which could have sailed through.
Thanks Brother once again

Sylverly:
firstly, does stambic allow one to chose their rate? If yes , u cn always gv ur rate, than going with bank rate. Secondly, certificate is being given, as evidence that you purchased a gov. bond. If you go with ur rate and it falls within the selected rates by CBN, while that of bank fails..it won't stop urs.

Thanks for your response too Brother .
Now I know.
I'll just take complete responsibility of decision-making down the whole length.
Thanks once again.

Stanbic was successful at last auction for 91days and 364days at 13.95% and 18.59%.
.
This is fair considering that there was no offer for 364days at previous auction and the stop rate for 91days at that auction was 14%. To choose a margin of -0.05% is ok to me. I don't know what they bidded for 182 days, but I am sure the margin will not have been exceedingly higher.
.
This is alot of bashing over 1 unsuccessful bid.
Next Week is the next auction date.
Let's see how things go then.

MOBBDEEP:


Sweet response Sir
I'm not the long-throat type
I'd have taken 18.5% for the 364-day Tenor which could have sailed through.
Thanks Brother once again



Thanks for your response too Brother .
Now I know.
I'll just take complete responsibility of decision-making down the whole length.
Thanks once again.

zenith frustrated me,simply because I went with the bank rate. Just the first shot I gv it on my own, It scaled through.

Winneygirl:
Stanbic was successful at last auction for 91days and 364days at 13.95% and 18.59%.
.
This is fair considering that there was no offer for 364days at previous auction and the stop rate for 91days at that auction was 14%. To choose a margin of -0.05% is ok to me. I don't know what they bidded for 182 days, but I am sure the margin will not have been exceedingly higher.
.
This is alot of bashing over 1 unsuccessful bid.
Next Week is the next auction date.
Let's see how things go then.

Like I said in my first post ...I made my own when I did not quote my own bid rate because what I had in mind would have sailed through.

I would tell again that I am fully aware it happens bids would not always be successful...

I already stated somewhere that I got pissed when it didn't succeed and all you had to offer was 14.5 for 195 days... haba.

when I know that sometime I deliberately skip primary options because I always get better rate in the secondary...The bashing no plenty I just had to vent my anger...

Winneygirl:
Stanbic was successful at last auction for 91days and 364days at 13.95% and 18.59%.
.
This is fair considering that there was no offer for 364days at previous auction and the stop rate for 91days at that auction was 14%. To choose a margin of -0.05% is ok to me. I don't know what they bidded for 182 days, but I am sure the margin will not have been exceedingly higher.
.
This is alot of bashing over 1 unsuccessful bid.
Next Week is the next auction date.
Let's see how things go then.

I'm just seeing your post.
Thanks for the intel.
I need to find out what happened to my bid then.
Because I placed a bid for 364-day Tenor but I wasn't debited up till now.
I won't be surprised if the CSR who attended to me forgot to send/forward my bid placement request to their headquarters.
And that there is highly unprofessional & negligent.
I'll see them on Monday.
Perhaps, I'd start using the other investment houses.

And, please, how & where can I get this inside info like you?
Is it possible?

MOBBDEEP:
Please, investment-minded folks, I have some questions gnawing on my mind for some times now which I have been repressing but I had to voice out following the unfortunate event of the supposed/purported failed bids of those who used Stanbic IBTC on the 5-1-17 TBs Offer :

* In which of those bids did Stanbic IBTC fail? Because I placed a 364-day bid which seemed to be unsuccessful too!
I went with Stanbic IBTC Rate.
Anyone with similar experience?
How about the 91-day & 182-day Tenor?

* Is there no way/platform/medium/forum for us to get intel or info on the details of transactions between Commercial Banks and CBN?

* How do we know or determine that the successful Bid Rate quoted for us by the banks is actually the true rate e.g if I'm told my bid is successful at 17.5% for 364-day Tenor and the calculations show so, how are we sure the bank didn't actually use 18.5% and are simply racketeering on the cash generated from this difference in rate which can be huge factoring in the cumulative capital base of numerous investors?

* If I specify my rate myself, what modus operandi obtains between CBN & my Financial House/Commercial Bank?
Do they bid separately for those who choose to go with their rates & those who specified their own rates?
How do they do it?

* Supposing an individual specified his/her own rate which falls in but the banks bid rate fails, what happens?
Will the individual's bid still be successful despite the bank's rate failing the bid?
What obtains in the reverse/converse scenario whereby an individual specifies bid that is above CBN offer range but the Bank's rate falls within?

* Do we have eagle-eyed bodies & institutions to protect individuals investors from the shylock banks who I have this knack & instinct for to be engaging behind closed doors in unwholesome lots of sharp practices?


Please, I'll appreciate responses Sirs & Mas

I also went with Stanbic rate for 364 days and mine was successful. Though initially, Stanbic sent memo to my branch that no 364 days auction, from what I decoded, it was due to the previous auction before that of 5th Jan, were only 91days and 182days were sold. I had to convince my branch that CBN was selling for 364days , and mine was done like 5mins to their closing timel. Some of these bank branches need follow up. You could always try for the next auction.

Hello house, I want to start buying NTB with N600k. Is this possible as it seems the minimum is N1m

For those who will always say they are moving away from one bank due to one small mistake on the bank's part, there's a very high chance that you stand to lose more than the bank does. With hundreds of billions in their balance sheet, you'd need to move at least a billion before they even notice. All you pay them for helping you bid are those meagre charges, but you'll lose much more if your new investment house is worse off. Stanbic for me remains one of the best banks currently for tbills. they hardly offer you less than 0.2% of CBN's stop rate, plus they always let you specify whatever rate you want. If you were to fail in the bid you placed for yourself, would you stop involving yourself in the other investment decisions you make?

MOBBDEEP:

Thanks Brother
The question you raised is one of the one I asked too.
It's quite sad that we have not gotten a detailed response or rejoinder to them
yet.


I appreciate your comment deeply.
I'm quite aware of the 2dary market.
My concerns there is that you may find it difficult to get the quantity you want.
2ndly, an inquisitive & reflective mind would likely think that the good rates of the 2dary market offer is a predictor of possible better or higher rates in the immediate next CBN offer.
Hence, the reluctance to purchase @ the 2dary market and hold on to the disposable cash for the next CBN auction.
I don't know if I made sense.

Actually it's the other way round. The trills sold on the secondary market are a reflection of how much they were bought during the primary auction. At least that's been my observation. It's usually a little lower than the closing price of that bill when the actual primary auction was done.

Secondly, have you calculated the time value of money by you waiting 2 weeks between a failed primary auction and the next? Do your calculations and you'll see that most times you'll be at par as say buying one at x% on the secondary market now versus waiting two weeks and buying at (x+1)%. Plus, your tenor counts off and you can have another dip faster.

Houstency:


I also went with Stanbic rate for 364 days and mine was successful. Though initially, Stanbic sent memo to my branch that no 364 days auction, from what I decoded, it was due to the previous auction before that of 5th Jan, were only 91days and 182days were sold. I had to convince my branch that CBN was selling for 364days , and mine was done like 5mins to their closing timel. Some of these bank branches need follow up. You could always try for the next auction.

Thank you Sir for the thoughtful response.
I have already written earlier that I'd check at the branch here at Uyo on Monday.
I guess the CSR/CCR forgot to send/forward my bid to their headquarters in Lagos.

battleaxe:


Actually it's the other way round. The trills sold on the secondary market are a reflection of how much they were bought during the primary auction. At least that's been my observation. It's usually a little lower than the closing price of that bill when the actual primary auction was done.

Secondly, have you calculated the time value of money by you waiting 2 weeks between a failed primary auction and the next? Do your calculations and you'll see that most times you'll be at par as say buying one at x% on the secondary market now versus waiting two weeks and buying at (x+1)%. Plus, your tenor counts off and you can have another dip faster.

I concur with your reasoning & argument Sir.
It's just that, to break even & get a better deal in the 2ndary market compared to the primary, the discount rate at the 2ndary must not be more than ~3% less than the primary offer.
Especially when you factor in some other cost which the primary market is devoid of e.g commission & professional fee.
Also, it takes awhile too.
Plus, some bank branches can't provide support platforms to access the 2ndary market for you.
By the way, some are even embarrassingly unaware & oblivious of NTB, let alone handle the 2ndary market stuff

Thank you very much

MOBBDEEP:


I concur with your reasoning & argument Sir.
It's just that, to break even & get a better deal in the 2ndary market compared to the primary, the discount rate at the 2ndary must not be more than ~3% less than the primary offer.
Especially when you factor in some other cost which the primary market is devoid of e.g commission & professional fee.
Also, it takes awhile too.
Plus, some bank branches can't provide support platforms to access the 2ndary market for you.
By the way, some are even embarrassingly unaware & oblivious of NTB, let alone handle the 2ndary market stuff

Thank you very much

I humbly disagree with the above..... completely!

All the above points are actually mute.

Approach or mail the treasury unit of your bank and they will have the info you need. The first time may be a hassle but once you have the contacts, it's easy.

On the contrary, there are fees to be paid for primary auctions..... not so for secondary. Except for some cut throat banks that charge this.

I'll leave you and others with an example.
1m for 182 days at 17.5% on the primary market - bid failed.

Approach secondary market, purchase same bill at 16%( difference is usually not that much but let's leave it at that); same tenor but to compare apples for apples, I will make this a 182+14 days tenor= 196. I am doing this so that both the secondary market bill and the primary market bill you will hopefully purchase in the next auction mature on the same day. Pls calculate your interest.

You decide to wait two weeks and try your luck. You get 17.5% for 182 days. Pls calculate your interest.

What's the difference?

Note that we have not considered the possibility that your auction will once again fail.

godash:
I've learned a lot on this thread and continue to. Thanks a lot to all the contributors here and to @feelamong for taking the initiative to start the thread.

I made my first Nigerian Treasury Bills (NTB) investment at the last auction after several years of fixed depositing. In trying to understand how the numbers tie together, I created a calculator for NTB investments and shared snapshots of it a few times on the thread.

Seeing the interest the snapshot generated from PMs I got, I cleaned it up and I'm now sharing it here for the entire community to benefit from. See the attached Excel file below.

To use it, just change the blue font cells to your particular investment situation.

Let me know your thoughts on it. However, I take no liabilities for your use of this calculator. So, use at your own risk. Also, like it, feel free to share it, and spread the love (of God)!

Happy investing everyone!

Thank you for this!

battleaxe:


I humbly disagree with the above..... completely!

All the above points are actually mute.

Approach or mail the treasury unit of your bank and they will have the info you need. The first time may be a hassle but once you have the contacts, it's easy.

On the contrary, there are fees to be paid for primary auctions..... not so for secondary. Except for some cut throat banks that charge this.

I'll leave you and others with an example.
1m for 182 days at 17.5% on the primary market - bid failed.

Approach secondary market, purchase same bill at 16%( difference is usually not that much but let's leave it at that); same tenor but to compare apples for apples, I will make this a 182+14 days tenor= 196. I am doing this so that both the secondary market bill and the primary market bill you will hopefully purchase in the next auction mature on the same day. Pls calculate your interest.

You decide to wait two weeks and try your luck. You get 17.5% for 182 days. Pls calculate your interest.

What's the difference?

Note that we have not considered the possibility that your auction will once again fail.

Thanks for your thoughtful remark.
I'm not trying to engage in unhealthy argument nor prove you wrong.
We are just trying to have more enlightenment

Based on your scenario above, you won't have 196 days because you won't get to know of failed bid until Friday when it would be too late to contact your bank to do the needful.
The weekend is also lost.
Hence, 4 days are lost. The comparative gains in days, is at best, 10 days = 192 days of Secondary Market

ROI will be :
192 by 0.16 (i.e16%) by 1M all divided by 364
= 84,395
(excluding bank professional charges & commission which should be far higher).

On the other hand, if you wait 14 days later (10 days actually technically & reality-wise) for NTB Primary Offer,

ROI here will be :
182 by 0.175 (i.e17.5%) by 1M all divided by 364
= 87500

Therefore, it's safe to conclude that waiting till next Primary Offer is far better

To each man his own!

Hello house Pls I av just 100k and want to invest it inTB but don't know which bank has that as the minimum I bank with gtb but think 1m is d minimum

Please anyone in the house. When will the next treasure bills be sold in 2017

DREGE:
Hello house
Pls I av just 100k and want to invest it inTB
but don't know which bank has that as the minimum
I bank with gtb but think 1m is d minimum

Stanbic ibtc bank minimum is 100 k and you can bid for yourself if you want

nellybadas:
Please anyone in the house. When will the next treasure bills be sold in 2017

Tomorrow; and every other Wednesday

Pls how... When am I supposed to get my money back in my acct. I can't find the text msg I recieved when the money was invested ...
The money was invested in october 17th or 19th and expected to mature in 91days which is this January but I'm not sure of the exact date... Has anyone who invested around that period recieved their credit ?