.

Thanks a lot! You're too much!!!

miella:


1. Yes

2. Yes. The last primary market auction rate was 13.4% for 91 days, 17.1390% for 182 days and 18.65% for 364 days. So Mr A that invested N100,000 in treasury bills for 364 days will get a higher interest than Mr B that invested the same N100,000 for 91 days. However, it is still better to invest large amounts because the interest will be yummy than investing little amount

3. Yes. The interest will be paid into your account but if you wish, you can still reinvest the interest to buy more treasury bills

.

.

chigrad:
Good day, please how do I join the express entry pool and what are the documents required to join the point apart from IELTS results. Pls don't refer me to page one of this thread o. I'm sorry for taking you back. Your kind response is needed. Thank you

See warning...lol

Oya check page 2

yimiton:
This is so informative. Thanks for taking your time to break it down the way you have. Please I will appreciate your response to the questions below:

1. Is TBill acceptable as PoF?
2. Does fixing it for longer guarantee more interest?
3. Is the interest paid into my account from day one or is it added to the capital?

1.) from my research thus far, t-bills is acceptable. I actually intend using t-bills.
2.) yes, longer tenors guarantee higher return. But the tenors are 91days, 182days, 365days... So apart from 91days (3 months) being the least, next you can opt for is 182days (6 months). Remember you cannot terminate like FD, so if you go for the 6 months, your money is locked and unaccessible for the entire 6 months.
Presently, 91days is at about 13.5%, 182day at 17.2%, 365days at 18.8%. These rates are at per annum so remember to prorate just like FD.
3.)the interest is paid into your account on day one. It's automated, you get the interest credited just after you are debited for the t-bills.
For FD, you get principal and interest creditted on day 91 (assuming you did 3 months tenor), but for t-bills, you get interest on day 1 and principal on day 91. You have full access to your interest as it is paid.

The whole essence of t-bills is citizens borrowing FG money, in effect, it's actually FG mopping up money in circulation as you do not have access to that money (your invested amount) for the period of your investment, but the interest is good (and you have access to this from day one)

miella:


Thanks bro.

For question no 5: It can be terminated, it is just that terminating it is not as easy as terminating fixed deposit. It is always better to leave it till maturity.

Cc: bigbroda

Corrections taken miella, and I just made another post still stating it cannot be terminated. Thanks for this!

miella:


30 days? Well, WES too sef get sending documents back for verification wahala

Patience is the key now oo

They send it back to the school for confirmation?what if the school doesnt respond? Nawa

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.

Jalzy29:
Dear Family,

I just want to drop a few points to encourage someone this hour especially people with IELTS scores that didn't come out as expected.
So i started this journey since Aug 2015..i rushed to do IELTS Without much practice and i scored: LSRW: 7.5,6,8,7 and i hired David Cohen Law Firm paid 2000 USD but nowhere was i advised that my score is bad and i need to retake the IELTS. I figured that out on a thread like this that was closed. So Practically, i read the previous thread and have been reading this thread since it started from Page 0.

Dont be in a hurry, every step is a major step: Practice, pray and Plan, and Read....
I Retook the exam in April 2016, when i figured out the CRS draw kept going higher: Behold: it was the hardest test i ever came across this was after so many practice sessions on Youtube, my hubby scaled thru because he listens to rap music... the listening was terrible..so i understand if the exam is tough..the result was: LSRW: 7.5,7.5,7.5,6.5.... it was a terrible try i must say coupled with the fact that i was heavily pregnant.
I eventually lost the baby at delivery in May and i was devastated and numb for weeks...
But Guess what i bought a book in church: JOYCE Meyer: NEVER GIVE UP...That book quickened the fire within me in this terrible times and i made up my mind to re-write IELTS exam, my hubby felt it was the wrongest time to write an exam because of the situation surrounding but my spirit man was lit and on fire..I paid for another IELTS AND Practiced, rehearsed, like my life depended on it..Prayed like my life was going to end..JESUS Did it: AUG 2016 Result: LSRW: 9,7,7.5,7...My score went up to 465.. but the subsequent draws were high..
I kept faith alive...till Jan 4 when i saw dat the draw came down and i didn't get an ITA after contacting DAVID COhen law firm they said my profile expired a day before and my contract had expired that the contract was for a year, remember i contacted them in July 2015 because a family friend relocated his whole family to Canada some years back and advised me they were the best and anytime i plan to take such a step i should contact them.
I was furious sent a mail to the whole high ranking officials in the firm and how they were joking with my relocation plan.. apparently we were not on the same page .. They decided to give me a waiver to renew my profile in the POOL...
Jan 11th draw i got ITA.. They informed me..and said they will collect 1500USD to assist in compiling my documents and submit my application to avoid mis-representation. I had already had enough of the firm and their shit.. so i told them i wont be continuing my application with them.
With the help of this amazing thread i was armed with information to submit a successful application.. which i did with my spouse.. We keep reading...Never GIVE UP.. Guys..see you all in Canada..

Awwh!! Your piece is so inspiring! Indeed everyone has a story on dis waka! Some people ehn ielts Don show dem pepper...lol, we thankGod it ended in praise...Also, sorry about the baby, God will provide another one soon.

So ur husband listens to Rap music? And it helped in his ielts? Ehen see trips.....Maybe na DRAKE he dey listen to, for me I don't hear anything dis American rappers say these days....lol

By the way pls you did not finish your super story. You should have gotten PR by now right?

Lastly, David Cohen be making a hell lotta cash easily.
@vcole @dupsyshoo @optionese @4omanlappy @ugoiyke @slowlybtsurely @bigbroda @babachi.. . I think we should make a Canada travel agency ni, I go be CEO

.

miella:


That is where the problem lies. They cannot proceed unless the school respond.

Will the school have to respond via courier or email?

Thanks.

It would appear then that it's better to invest a good amount of money for shorter terms and re-invest it at the end of the term.

Eg, If I put 3m for 3 months, and re-invest it for another 3 months at the end of the tenure, I'll be getting a total of 27% in 6 months as against 17.2% that I'd have gotten if I'd done a straight 6 months.

Please clarify, I'm not very good with all these financial stuff.

Kontagious:

1.) from my research thus far, t-bills is acceptable. I actually intend using t-bills.
2.) yes, longer tenors guarantee higher return. But the tenors are 91days, 182days, 365days... So apart from 91days (3 months) being the least, next you can opt for is 182days (6 months). Remember you cannot terminate like FD, so if you go for the 6 months, your money is locked and unaccessible for the entire 6 months.
Presently, 91days is at about 13.5%, 182day at 17.2%, 365days at 18.8%. These rates are at per annum so remember to prorate just like FD.
3.)the interest is paid into your account on day one. It's automated, you get the interest credited just after you are debited for the t-bills.
For FD, you get principal and interest creditted on day 91 (assuming you did 3 months tenor), but for t-bills, you get interest on day 1 and principal on day 91. You have full access to your interest as it is paid.

The whole essence of t-bills is citizens borrowing FG money, in effect, it's actually FG mopping up money in circulation as you do not have access to that money (your invested amount) for the period of your investment, but the interest is good (and you have access to this from day one)

You should be able to get '2 degrees or more' with both degrees that you have. That would fetch you more points.

britishknight:
I have a B.Sc and HND, which of them will offer more points when verified by IQAS?

Kontagious:

Hello bigbroda, let me make an attempt at your questions.

1.) it depends on your bank, I think some have minimum amount as low as N100,000. But any amount you wish to invest must be in multiple of N10,000.

2.) you can request at anytime but bids for treasury bills are done every two weeks, so if you request say some days after the last bid, you'd have to wait for the next one that comes two weeks after the last. You can however place your request at any point. Your account would only be debited I think a day to when the treasury bill will be booked.

3.) go to your bank and tell their customer service representative you want to invest in treasury bills, you'd be given a form and advised on rate and the next bid date (usually within two weeks). Rate is usually higher than FD rates. In the past months, it's been around 13.5% (for 91days)

4.) minimum duration is 91days, not sure of maximum

5.) it cannot be terminated. (but I think it's transferable)

6.) it works like FD with a set return rate, but unlike FD that you get paid your principal and interest at the last day, for T-bills you actually get paid your interest on the 1st day. That is, say you invest N1m for 91days. You'd be debited N1m on the day of bid and credited your interest same day, then on maturity, you get your N1m credited.

7.) rate slightly varies across banks say +/- 0.05 percent. So, bank A might offer you 13.5% while bank B might offer at 13.45% while another offers 13.53%. Slight variation across bank as there is a set rate from FG, the variation is where the banks makes their spread.

However, from personal experience, I have realized FCMB as better rates compared to FBN and GTB per time (for same range of amount) even for FD. You'd be shocked to find 8% at FCMB and 5% at GTB, 5.5% at FBN for FD.

Disclaimer: please choose bank at your discretion!

I hope this helps, others can weigh in for better response

I got 18% from First Bank last month.

esosa4real:


See warning...lol

Oya check page 2

.

.

Guys my update.

Am March 15th AOR
Medical passed MAY 11th.
Updated my new passport after request.
Status - additional document under review.
This week I a UCI number for my wife and son is now showing on my dash board.
Seniors please advise further.

Guys please share your timelines to encourage one another.

Lol. It's not the casino bro. Interest is per annum. Divide 17.2% by 12. That's the interest per month. Multiply by 3 to get the interest for 3 months

yimiton:
Thanks.

It would appear then that it's better to invest a good amount of money for shorter terms and re-invest it at the end of the term.

Eg, If I put 3m for 3 months, and re-invest it for another 3 months at the end of the tenure, I'll be getting a total of 27% in 6 months as against 17.2% that I'd have gotten if I'd done a straight 6 months.

Please clarify, I'm not very good with all these financial stuff.

Boss, based on your recommendation, which would you advice if I'm evaluating my OOU degree? WES or IQAS?

40manlappy:


On point! Obviously, the "whole world" has ported to IQAS. Foreign degree holders are definitely better off with WES.

In addition, anyone whose school traditionally takes forever to respond to external enquiries (such as WES) should jejely use IQAS.

.

Adiahabasi:
Ask for a remark in writing if she's to be the PA.

I am the PA. I may not need her points to get ITA if my own scores come out as good or better.

miella:


Primary or Secondary market? and what was the tenor?

I don't really know. I called up my account officer and told her to buy Tbills for me and advice me of the rate. So she did and the rate was 18% for a year. This was actually 2 months ago, forgot we were in June. She capitalized the interest as well.

ltee:
Guys my update.

Am March 15th AOR
Medical passed June 11th.
Updated my new passport after request.
Status - additional document under review.
This week I a UCI number for my wife and son is now showing on my dash board.
Seniors please advise further.

Guys please share your timelines to encourage one another.

Please confirm the date of Medical passed sir

.

Thanks. Very apt.

miella:


No, higher tenor gives higher interest.

For example, If you invest N100,000 for 364 days at a rate of 18.65%, your interest will be N18,650.00 using the formula (PRT/100)

While for 91 days @ 13. 6% your interest will be N3,390.68

Now if you multiply 3,390.68 * 4 ( remember interest rate is calculated annually) your interest will be N13,562.72 (if you invest four times in a year for 91 days each)

So you can see longer tenor will give higher interest. Now imagine if you invest like N3,000,000.00, the difference will be very high

Also note: if you want to use your treasury bills as POF, it is better to go for longer tenor as this will also help to convince the VO .

Thanks.

miella:


No, higher tenor gives higher interest.

For example, If you invest N100,000 for 364 days at a rate of 18.65%, your interest will be N18,650.00 using the formula (PRT/100)

While for 91 days @ 13. 6% your interest will be N3,390.68

Now if you multiply 3,390.68 * 4 ( remember interest rate is calculated annually) your interest will be N13,562.72 (if you invest four times in a year for 91 days each)

So you can see longer tenor will give higher interest. Now imagine if you invest like N3,000,000.00, the difference will be very high

Also note: if you want to use your treasury bills as POF, it is better to go for longer tenor as this will also help to convince the VO .

esosa4real:


Awwh!! Your piece is so inspiring! Indeed everyone has a story on dis waka! Some people ehn ielts Don show dem pepper...lol, we thankGod it ended in praise...Also, sorry about the baby, God will provide another one soon.

So ur husband listens to Rap music? And it helped in his ielts? Ehen see trips.....Maybe na DRAKE he dey listen to, for me I don't hear anything dis American rappers say these days....lol

By the way pls you did not finish your super story. You should have gotten PR by now right?

Lastly, David Cohen be making a hell lotta cash easily.
@vcole @dupsyshoo @optionese @4omanlappy @ugoiyke @slowlybtsurely @bigbroda @babachi.. . I think we should make a Canada travel agency ni, I go be CEO

Lol @ CEO. na wetin bring Naija this level b dat o. #justkidding

I also like d rap part. God bless our hustle!

IQAS ohhhhhhh, if you use WES you will not get it this year, OOU no send anybody at all.

codebrew85:
Boss, based on your recommendation, which would you advice if I'm evaluating my OOU degree? WES or IQAS?

Hi Guys,

I have been a follower of this thread for few weeks and I have found it very helpful and informative. Big ups to all who are contributing to this platform. My IELTS result just came out LRSW 8.5/7/7/7.5 and I intend to enter the EE pool as soon as possible but a major stumbling block is my ECA. My School (LAUTECH) has been on strike for almost a year now and it doesn't look like the school is going to resume anytime soon. Is there anyone who is in similar situation? I only have my statement of result and from what I have read here, I don't think that will suffice. Is there anyway around this? Your input will be much appreciated.

Many thanks in advance.