zinnella:
First bank

yea FBN told me 13%

okochaik:


My mum is in the first bank now and trying to bid for primary market but they told her that she can only go for secondary. What does she need to do?

Mine too is 17th of this month with GTBANK.....Please what time of the day are they going to credit us..?

Gavrelino123:

Mine too is 17th of this month with GTBANK.....Please what time are them going to credit us..?

I am a newbie, I do not even know what the TB form look like. But I guess it will be on Thursday. We may need a more professional person to answer this

Can somebody tell me the interest rate today for 91 days tenor at FBN today pls. They said 13%.

I ve already been debited. I applied on friday. Is that ok?

Hello house,
I was in first bank last Monday to apply for treasury bills but I was told that they don't do secondary market there but later told me it can be done but was not successful. Today I got a debit alert for TB 364days and I read that there won't be 364days this week. How come I was debited for 364days. I am confused, is that a mistake from the bank or what?

Just a little provocation!!!

We know the "Government" is looking for a cheaper way to fund the current budget deficit. Going by the gist we all know, which is still subject to senate approval, the Finance Minister route might be possibly approved.

I don't want to go into the details of the implications but one that seems to stick out like a "sore tongue" is that the current rates being enjoyed on T-bills will possibly drop by 200 basis point (minimum).

So, isn't it better to lock my funds for the next one year or anything about 300+ days? So, why will i want to partake in this current primary auction knowing the maximum tenor i can get out is 182 days when we have secondary market equally doing better?

If i'm so crazy about primary market, would rather wait for the next auction scheduled for August 31, 2017.

It's going long all the way!!!

@feelamony please educate me more about the TB, my email address is Jokinexcel@gmail.com, I want to invest 1m on TB, am based in Port Harcourt, I went to first bank today to make enquiry but the lady I met seems to know nothing about TB, telling me that they charge VAT, that the interest is between 5% and 8%, and a lot of nonsense. Please who manages your account, is diamond bank good in trading TB, at the primary market. Am awaiting a response from you. Thanks

skydiver01:


The Secondary market is what is available with N1m thus you can make your purchase any day you want. Primary market bids start at N50.001m.

The guy at your stanbic bank is wasting your time and your funds will be in the account for a little longer with the bank if you wait endlessly for the primary market dates... (which might have been his objective)

Please dont let bankers misadvise you.
You can invest in treasury bills through the primary market with as low as N100k, the CBN N50m policy not withstanding.
The difference is if you do not have N50m to bid independently, you have to go with your bank's bid rate.
Stanbic IBTC accepts N100k and above in the primary market.
Some branches of first bank accept N1m and above.
Best regards.

jokinexcel:
@feelamony please educate me more about the TB, my email address is Jokinexcel@gmail.com, I want to invest 1m on TB, am based in Port Harcourt, I went to first bank today to make enquiry but the lady I met seems to know nothing about TB, telling me that they charge VAT, that the interest is between 5% and 8%, and a lot of nonsense. Please who manages your account, is diamond bank good in trading TB, at the primary market. Am awaiting a response from you. Thanks

Your investment in treasury bills is tax exempt, meaning it is tax free.
Be careful with information from some bankers, they are simply ignorant of the workings of some of these investment mechanisms.
If you dont get satisfactory response from your branch, you can inquire from other branches or better still open an account with the recommemded tbills friendly banks.
Never let an uninformed bank staff quench your thirst for financial education and freedom.
Cheers.

jokinexcel:
@feelamony please educate me more about the TB, my email address is Jokinexcel@gmail.com, I want to invest 1m on TB, am based in Port Harcourt, I went to first bank today to make enquiry but the lady I met seems to know nothing about TB, telling me that they charge VAT, that the interest is between 5% and 8%, and a lot of nonsense. Please who manages your account, is diamond bank good in trading TB, at the primary market. Am awaiting a response from you. Thanks

Your investment in treasury bills is tax exempt, meaning it is tax free.
Be careful with information from some bankers, they are simply ignorant of the workings of some of these investment mechanisms.
If you dont get satisfactory response from your branch, you can inquire from other branches or better still open an account with the recommemded tbills friendly banks.
Never let an uninformed bank staff quench your thirst for financial freedom.
Cheers.

cooldudeng:
Just a little provocation!!!

We know the "Government" is looking focr a cheaper way to fund the current budget deficit. Going by the gist we all know, which is still subject to senate approval, the Finance Minister route might be possibly approved.

...
So, isn't it better to lock my funds for the next one year or anything about 300+ days? So, why will i want to partake in this current primary auction knowing the maximum tenor i can get out is 182 days when we have secondary market equally doing better?

If i'm so crazy about primary market, would rather wait for the next auction scheduled for August 31, 2017.

CIt's going long all the way!!!

Watch the SEC market..if you see any 300+d tenor with 18+%
LOCK IT

Big question is..

WHAT WILL THE ECONOMY BE LIKE by this time next year with the coming elections and all??

jokinexcel:
@feelamony please educate me more about the TB, my email address is Jokinexcel@gmail.com, I want to invest 1m on TB, am based in Port Harcourt, I went to first bank today to make enquiry but the lady I met seems to know nothing about TB, telling me that they charge VAT, that the interest is between 5% and 8%, and a lot of nonsense. Please who manages your account, is diamond bank good in trading TB, at the primary market. Am awaiting a response from you. Thanks

STICK with IBTC or First Bank

Always ask for the person in charge of TBills at the branch at the customer care desk.

ask for the form if you are ready..or ask to know the available secondary mkt deals

dont act like you are ignorant or
they will SLICE YOU! And sell you their old deadly Tbills at meagre rates

THE TOTAL CHARGES are in the range of 0.5-1.5% of the interest YOU MAKE.
Not On your CAPITAL.

Who wants to earn money online with Bitcoin investment legit company trusted and reliable

RealityShot:

STICK with IBTC or First Bank

Always ask for the person in charge of TBills at the branch at the customer care desk.

ask for the form if you are ready..or ask to know the available secondary mkt deals

dont act like you are ignorant or
they will SLICE YOU! And sell you their old deadly Tbills at meagre rates

THE TOTAL CHARGES are in the range of 0.5-1.5% of the interest YOU MAKE.
Not On your CAPITAL.

what do you mean by slicing with old deadly meagre rates?

The rates are based on history. The fbn tbills guy simply said based on last bidding, 91 days was about 13.%.

what more caution is there? Or are you at the level of 50m and above

C4Ltd:


same here o. They kept posting me saying I should do fd.

I went today too. 13% 91 days. Two banks confirmed last bid was about 13% for 91 days tenor. so go ahead. I've applied already

is it for primary or secondary market?

murphyrichy:
is it for primary or secondary market?

I'm a newbie. didn't ascertain that

kindly what's primary and secondary market about?

The staff said something about not much of a difference between primary market rate and that of secondary market rate

skydiver01:


The Secondary market is what is available with N1m thus you can make your purchase any day you want. Primary market bids start at N50.001m.

The guy at your stanbic bank is wasting your time and your funds will be in the account for a little longer with the bank if you wait endlessly for the primary market dates... (which might have been his objective)

Thanks man. Now i know what to do.

Ovie2011:
Hello house,
I was in first bank last Monday to apply for treasury bills but I was told that they don't do secondary market there but later told me it can be done but was not successful. Today I got a debit alert for TB 364days and I read that there won't be 364days this week. How come I was debited for 364days. I am confused, is that a mistake from the bank or what?

Yes i guess it's a mistake from the Branch. The staff who did that is very likely to be ignorant that there won't be 364day tenor

Ovie2011:
Hello house,
I was in first bank last Monday to apply for treasury bills but I was told that they don't do secondary market there but later told me it can be done but was not successful. Today I got a debit alert for TB 364days and I read that there won't be 364days this week. How come I was debited for 364days. I am confused, is that a mistake from the bank or what?

Like said above, It's most likely a mistake or lack of information by the officer in that branch. Some branches are more clueless than others. He may not be knowledgeable about the running of secondary market. Was in Wuse market branch of FBN in Abuja for some TB sec market transaction. The guy I met as in charge there was very clueless .I.e In most FBN branches I operate, there just open the platform & tell me what's available but for him he said he will have to call some1 and see...not that the platform was bad ooo.

Another thing is that information might not have gotten down to the officer in the branch that attended to you. Mayb he deducted it in anticipation that there'll be 364days auction.

C4Ltd:


what do you mean by slicing with old deadly meagre rates?

The rates are based on history. The fbn tbills guy simply said based on last bidding, 91 days was about 13.%.

what more caution is there? Or are you at the level of 50m and above

someone got sold a 300+d tenor at 17+% recently...

A Branch manager at FBN told me tBills are only primary mkt.. She didnt know about secondary mkt.

No extra caution. Just show you are in the know and they wont try anything funny

Greetings everyone.
To keep track of daily NTB and FGN BOND Prices.
Kindly visit https://www.fmdqotc.com/
Or follow their twitter handle to get daily market closing price: @FMDQOTCExchange
Makes it easier to get the benchmark..

RealityShot:

someone got sold a 300+d tenor at 17+% recently...

A Branch manager at FBN told me tBills are only primary mkt.. She didnt know about secondary mkt.

No extra caution. Just show you are in the know and they wont try anything funny

I see thanks

okochaik:


Actually it is my money but since I am living abroad, there is no way I can access TB and so I told her to go and open an account with her name on first bank. So she is investing the money on my behave through her account. This is my first time doing TB and since I am not around it is her that know no knowledge about it will go to the bank and so it wasn't that easy. Well today she went to a First bank branch that is in my town and the banker told her that there is nothing like primary market and that primary market is done by the bank and then sell to customers in secondary market. Since I am sure that we can do primary market from what I have been reading here on Nairaland, I told her to insist and even threaten to withdraw all the money in that account and find another bank. Yet the banker insisted and tell her to shut down the account if she wants. No be small thingoo, I even began to doubt is a customer can bid in primary market.

But then I told her to go to another branch of first bank. When she got there, she told me that they give her primary bid form without any hustle. Also the the bank rate was 17.0% for 182 days. Finally her to come on Thursday to check if the bid was successful. I hope it will be

Thanks for the eye opener, I'm in same shoes as yours. So you mean everything was done in your name but through her account? Which day of the week did she go to the bank? Thanks.

TONY56:



Yes i guess it's a mistake from the Branch. The staff who did that is very likely to be ignorant that there won't be 364day tenor

Would my account be credited back if there is no 364 days tenor?

stevemims:
Thanks for the eye opener, I'm in same shoes as yours. So you mean everything was done in your name but through her account? Which day of the week did she go to the bank? Thanks.

She did everything in her name but the cash is mine. It was yesterday that she went to the bank

freeman67:


Like said above, It's most likely a mistake or lack of information by the officer in that branch. Some branches are more clueless than others. He may not be knowledgeable about the running of secondary market. Was in Wuse market branch of FBN in Abuja for some TB sec market transaction. The guy I met as in charge there was very clueless .I.e In most FBN branches I operate, there just open the platform & tell me what's available but for him he said he will have to call some1 and see...not that the platform was bad ooo.

Another thing is that information might not have gotten down to the officer in the branch that attended to you. Mayb he deducted it in anticipation that there'll be 364days auction.

Would my account be credited back since there won't 364 days because I am thinking of going to the bank to inform them about it so that I am not given anything less like that of 91 or 182 days because that doesn't interest me.

Please house this morning Fidelitybk gave me 6% on #5m for 14days CALL DEPOSIT is that a good rate or are there better offers out there?

PETERiCHY:
Please house this morning Fidelitybk gave me 6% on #5m for 14days CALL DEPOSIT is that a good rate or are there better offers out there?

Well, it's a call deposit. Rates on that are lower. You might have been able to get something better on the NTB sekondiri market. I don't know what their rates for that are.

olujaidi:


Well, it's a call deposit. Rates on that are lower. You might have been able to get something better on the NTB sekondiri market. I don't know what their rates for that are.

Well NTB is out of it because i will need the fund when i batch next month.

PETERiCHY:


Well NTB is out of it because i will need the fund when i batch next month.

look for a tenor that matches your timeframe