acorntree:

is vat applicable to tbill?

mine was successful 17.5 % for 364 tenor. being first timer I'm still OK with it.

samkay12:
Any one here bid with Stanbic Bank this week?
Those guys are bordering on buffonery these days.
They forced me to go with the bank rate and it looks like what they bid this week is more than what feelamong posted

0m00:
@Feelamong and everyone

Thank you for your contribution to this thread. Please do you reckon it would be wise to invest from Europe? That is, converting to naira, buying Treasury Bills and then converting back when the funds are returned by the bank?

Your thoughts will be highly appreciated.

Baboo13:
Has anybody been debited from GTB?

HazzanTazzan:
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 ?

Alikote:
did gtb 365 bid scale thru am yet to be debited

0m00:
@Feelamong and everyone

Thank you for your contribution to this thread. Please do you reckon it would be wise to invest from Europe? That is, converting to naira, buying Treasury Bills and then converting back when the funds are returned by the bank?

Your thoughts will be highly appreciated.

lancee:




I got in touch with them few mins ago , my 365 did not , she said they lost the bid .was given the option for 13.5 for 91 days [secondary mkt ]

Will get back to dem

Alikote:
o.k till next 2 week it better to lock in for a year @18 cos the economy might recovery around june with crude prices going up naira rebounding inflation might come down...rate shall drop

Alikote:
o.k till next 2 week it better to lock in for a year @18 cos the economy might recovery around june with crude prices going up naira rebounding inflation might come down...rate shall drop

0m00:
@Feelamong and everyone

Thank you for your contribution to this thread. Please do you reckon it would be wise to invest from Europe? That is, converting to naira, buying Treasury Bills and then converting back when the funds are returned by the bank?

Your thoughts will be highly appreciated.

chukzyfcbb:

that's a big gamble bro, our naira can drop as much as 20% in 1month. just one policy can overturn all the interest made. a 20% depreciation of the naira can erode all the gain in One year investment of treasury bills. attempting such will make you not just a t.bills investor but a forex investor. If you wouldn't be converting the naira back to euros, fine . otherwise that's a big big big gamble because foreign investors still feel our naira hasn't depreciated fully enough for them to return....for me I won't stay off, except I won't be changing my naira to euro for long time

samkay12:
Very good question; given the much smaller rates you get in Europe.
To be honest it is a lottery.
You could do this and the exchange rates will be even worse when your TB matures.
For instance someone who had done what you wanted to do a year ago would have lost a lt of money.

Say £ is 590 and you invest £1000 = NGN590,000 x 18.5% (1 year TB)
If the £ goes up to 690 then it has been a waste of your time
If it goes over 700 then you would have lost money

If you feel the exchange rates will be much much better when your tenor elapses then yes; Otherwise don't do it.

Also consider the fact that you may have to go to Black Market to get your forex (or your money getting stuck in Nigeria due to scarcity);
So you really are depending on things getting much better for this to make any sense to do.

Thats My 50kobo

Sylverly:
Pls anybpdy with first quarter calendar should help upload..want to know the next auction date

awesomeJ:
My great stanbic guys obviously learnt from the mistake made in the last auction. They bidded conservatively at just about 16.7% for 182 days. Thanks to them, I already thought lost out, because I submitted 17.35 for 182 days (I wonder what I was thinking). This is the second time they are making me go with the bank rate contrary to my instruction, and guess what, it's always paid off big time. I guess I'll just choose to always go with their rate. stanbic for me means a good deal for investment transactions, their MMF too is doing around 17% for me, with the added advantage of flexible withdrawals. God bless stanbic, and all of those who work there. Thanks guys.

kateskitty:
Please who can help me with this?
If someone wants to invest 5,000,000 in Treasury Bills for 1 year, how much could the person get in terms of interest rate?

THanks.

vexing:

About 17%. Which is 0.17*5,0000,000 = 850,000

ETHIX:


Oga, what Stanbic did was wrong. They should have credited u back ur principal since your bid was not successful. The approved CBN rate was 17.25% for 182 days while you quoted 17.35.

However they should have left you with the option of buying from a secondary market or you wait for the next bid.

What Stanbic did was either of the following.
They gave you their rate contrary to your instruction or they bought you Tbills at the secondary market.

Banks don't lose out in Treasury bills they are only smart to manipulate their customers ignorance and maximise their return. Imagine they gave u 16.7 for 182 days at worst 17% would have been better but you are here praising them

Houstency:


1 year as at last auction is around 18.64..
To be on the safe side pending MPC meeting outcome.. if you bid around 18.60 for 364 days tenor..
You simply multiply by 0.1860 * 5,000,000 = ***

Subtract at most #20,000 for bank fees, commission etc. And you should expect your upfront Interest within the said range.