Gavrelino123:

please how many debit alerts were you debited...
I was only debited once...
The normal debit alert os suppose to be three..
I can't even determine the rate....very confusing

Use this formula to determine your rate if you did 364 days

P = Principal

DA = Discounted Amount i.e. the amount you were debited

DI = Discounted Interest

T = Tenor

DI = P - DA

Rate(R) = ( DI / P ) * 100

TONY56:



My brother, it's not true at all that if he was debited last Monday his Treasury Bill will be treated during the next bid. The true situation is that once you are debited before the day of the bidding, it will be treated for that Wednesday.

First Bank expect you to have submitted your application for Trreasury Bills on Friday before the bid or latest before 12 noon on Monday.

Gaddaffi121:
Thanks guys. i have just been debited 817700.82 naira on d 1m tb i did with stanbic. primary market. Ur guidance was indispensible. i am grateful sirs. especially to mr Tony. Now i know d way to TB

The same with mine. Thanks for the guru in the house

TONY56:



Eh yah!!!
Sorry o. Your "Banker" i.e your account office has played a fast one on you for your ignorance.

He has no justifiable reason not to process your request especially IF you had the funds in your account on or before last Monday.and IF your request was for the Primary Market and not Secondary Market.

Did you fill the form for the Treasury Bill indicating that it was for 30th August 2017 auction and signed?

IF you did not, then he capitalized on that and did not ask you to do so because he needed your money to remain in your account to boost his target for the month and IF you did, he is not happy that you want to do Treasury Bills as that does not pay him (you can report him to their head office for this i. e if you filled the form). He needed to have your money in your account or invested in a Fixed Deposit.

I don't think there's any Treasury Bill Auction slated for next week as Treasury bills at the Primary Market takes place every fortnight , so he is likely to have lied to you that he will do it on 5th September 2017 EXCEPT if its for the Secondary Market which can be done everyday that it's available and not necessarily on any particular day or date.

One thing you should know is that once you do Treasury Bills, the money leaves the custody of your bank to the CBN, and the bank can't trade with it again-so they are not happy and could do anything to frustrate it.

WAY OUT
I have advised people, especially newbies not to ever go through their accounts officers to do Treasury Bills. Better still, go to a different branch of your bank and simply walk in and ask for the officer in charge of Treasury Bills for that branch, be very confident before him or her not to give any impression that you don't really know what you want. Then tell the TB officer that you need a form for the next Primary Market Treasury Bills, fill the forms, sign and submit.

If what you want is the Secondary Market, walk into ANY branch of your bank and tell the TB officer that you want to know the available rates for Treasury Bills and tenors for that day and moment, and it will be made available to you through their online system and choose the one you like, after which you get the form fill, and sign.

It's because of these happenings that I always advice newbies to take the pain and time to go through the threads on this forum from the beginning to familiarise themselves with how to go about it and avoid the tricks usually employed by the bankers, but some people say it's not necessary to go through from the beginning.

I have deliberately written an "EPISTLE" to explain to you so that others like you can really understand and benefit and i hope you fully understand the nitty-gritty of it all now?

.


Hello Sire, an official newbie to TB. I'll need your advice on it but iono if I get your whatsapp contact for more direct conversations. Thanks.

Treasury Bills Yields Spike at Primary Market Auctions in H1 2017—Report
https://www.businesspost.ng/2017/09/01/treasury-bills-yields-spike-primary-market-auctions-h1-2017-report/

NL1960:


Use this formula to determine your rate if you did 364 days

P = Principal

DA = Discounted Amount i.e. the amount you were debited

DI = Discounted Interest

T = Tenor

DI = P - DA

Rate(R) = ( DI / P ) * 100

Thanks bro,I'm worried because it's not showing in my online bank Account for Treasury Bills for GTB....
And i din't even get any advice mail letter..
What do you suggest..?

Gavrelino123:

Thanks bro,I'm worried because it's not showing in my online bank Account for Treasury Bills for GTB....
And i din't even get any advice mail letter..
What do you suggest..?

dont worry it will be sorted out ,mine is yet to be debited same gtb

kycilae:
Pls stanbic ibtc Bank customerss. Do they use to gv monthly interest cos i was credited with 1200 or is it another credit alert

Yes they do on savings account, when you make less than three withdrawals within the month.

Gavrelino123:

Thanks bro,I'm worried because it's not showing in my online bank Account for Treasury Bills for GTB....
And i din't even get any advice mail letter..
What do you suggest..?

Now iam confused. You have been asking for the rate saying that you were debited. Now you are insinuating that you have not been debited. So which is it because you could not have been asking for the rate used when you have not been debited.

NL1960:


Now iam confused. You have been asking for the rate saying that you were debited. Now you are insinuating that you have not been debited. So which is it because you could not have been asking for the rate used when you have not been debited.

U still dont understand me..
Normally, GTBANK debit Three times in Treasury bills investments..
One for invested amount the other two are for their different commissions....
I was only debited once in my savings Account which is the discounted invested amount that's why I'm confused.
And I'm not seeing it in my online Treasury bank account statement....that's what makes me even more confused...
This is my third investment in Treasury bills this year with GTBANK...... one Matured last Two weeks......Now this my latest investment isn't there i have to be worried naturally......I can only see the one that will be maturing October 19th......the 364 days which is my latest investment isn't there.
Check yours to confirm what I'm saying..
I want to know if it's General....

emmanuelewumi:


First Bank expect you to have submitted your application for Trreasury Bills on Friday before the bid or latest before 12 noon on Monday.

I insist that anyone debited by First Bank before the bid day on Wednesday will have his or investment treated for that week and I stand to be corrected. If you are debited before the bid day and it's not treated for that week, you have every right to seek redress if you know your rights cause they will have to show their reasons for the debit. Except if the bid of the bank for NTB fails

Fratello:
.


Hello Sire, an official newbie to TB. I'll need your advice on it but iono if I get your whatsapp contact for more direct conversations. Thanks.

Pls state whatever advice you need here so that many others too can learn or gain from it as that will save the trouble of having to give same advice or explanations all over again.
But I also think that you should take the advice of taking the "pain" of going through this thread from page 0 for better understanding as ALL the advice and questions you may be seeking have been dealt with SEVERALLY by many knowledgeable members of this forum.
I hope you will understand and not think that I am bluffing.

kycilae:
Pls stanbic ibtc Bank customerss. Do they use to gv monthly interest cos i was credited with 1200 or is it another credit alert

Yes STANBIC pays monthly interest on Savings account at between 3 & 4% per annum which gives you between 3/12 & 4/12% monthly

Hello House,
Can anyone help with the treasury bill calender for September - November if any. I have searched tirelessly.

Gavrelino123:

U still dont understand me..
Normally, GTBANK debit Three times in Treasury bills investments..
One for invested amount the other two are for their different commissions....
I was only debited once in my savings Account which is the discounted invested amount that's why I'm confused.
And I'm not seeing it in my online Treasury bank account statement....that's what makes me even more confused...
This is my third investment in Treasury bills this year with GTBANK...... one Matured last Two weeks......Now this my latest investment isn't there i have to be worried naturally......I can only see the one that will be maturing October 19th......the 364 days which is my latest investment isn't there.
Check yours to confirm what I'm saying..
I want to know if it's General....

You are not alone.. some other people have had similar experience. Do not worry. It be hell for GTbank if they do not credit your account on maturity.
I think they are using the cash value to do business that will give them higher interest margin than TBILLS is giving you.

Good morning friends, please when is the next Auction?

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Reyus:


You are not alone.. some other people have had similar experience. Do not worry. It be hell for GTbank if they do not credit your account on maturity.
I think they are using the cash value to do business that will give them higher interest margin than TBILLS is giving you.

I am experiencing the same thing with GTB with my last TB investment. They are not showing on my online account whereas the older ones are showing. My account officer said there is no cause for alarm that it is a system issue and I will surely be credited when it matures.

Gavrelino123:

U still dont understand me..
Normally, GTBANK debit Three times in Treasury bills investments..
One for invested amount the other two are for their different commissions....
I was only debited once in my savings Account which is the discounted invested amount that's why I'm confused.
And I'm not seeing it in my online Treasury bank account statement....that's what makes me even more confused...
This is my third investment in Treasury bills this year with GTBANK...... one Matured last Two weeks......Now this my latest investment isn't there i have to be worried naturally......I can only see the one that will be maturing October 19th......the 364 days which is my latest investment isn't there.
Check yours to confirm what I'm saying..
I want to know if it's General....

I understand now. I did not register for GTB internet banking. So do not use their online service. I was debited once for the discounted value and then sent an email on the details of the TB.

So, if you were debited and you did not get an email advice, then call your account officer or visit the branch.

NL1960:


I understand now. I did not register for GTB internet banking. So do not use their online service. I was debited once for the discounted value and then sent an email on the details of the TB.

So, if you were debited and you did not get an email advice, then call your account officer or visit the branch.

Thanks.. i will have to visit them on Tuesday morning ..
I just need to be 100% sure..

Pls for stanbic, when should I expect the email confirming my TB investment

kycilae:


13th September but go to ur desired bank on 11th and filled d form against d day

thanks bro... I use Zenith bank

For those intending to seek redress for any reason, There is a need for them to first of all make enquiry in any bank or financial house they intend use about their policies in regards to TB before investing or initiating any redress seeking process. Also before signing the documents/request form given to you there be sure you understand what is written there and agree with it before going further.

From my dealings with FBN I got to understand that most times the branches I deal with do not accept TB request if done in the very week of primary auction. Also they make deduction in preparation for the investment immediately they receive your request. However,that does not mean that you will automatically succeed it only mean that if FBN bid succeeds yours will. If eventually it doesn't, you will be notified of available options of whether to go with what they have in the secondary market,leave it till d next auction or refund your money back to your account for you.

TONY56:


I insist that anyone debited by First Bank before the bid day on Wednesday will have his or investment treated for that week and I stand to be corrected. If you are debited before the bid day and it's not treated for that week, you have every right to seek redress if you know your rights cause they will have to show their reasons for the debit. Except if the bid of the bank for NTB fails

not so true. FBN request should be placed at preceeding Friday before the auction and at most early Monday with a plea on the officer to help you file your application on time. If submitted after the 'grace' period they nevertheless debit your account in preparation for the upcoming auction.

Once in that shoe so I can fully relate.

joseph1013:
I have a concern, what if the Federal Government is unable to fulfill its TBILLS obligations?

It is highly unlikely. Rather than default, the government would print more currencies to meet their obligations.

It is not called a "risk-free" investment for nothing

joseph1013:
I have a concern, what if the Federal Government is unable to fulfill its TBILLS obligations?

Based on the budget, we should have a full year budget deficit of N2.37 Trillion, but at half year, we already have N2.5.

Based on the budget, we should have a full year debt service of N1.66 Trillion but in half year we already have excess of N1 Trillion.

Revenue is not increasing. Where will they get the money from in the next years when these TB reach maturity?

Just trying to voice out my fears about my investments.

Elders in the house?

defaulting in Naira they rather print new bills but dollar bond default happen like the case of Greece

torres2:


not so true. FBN request should be placed at preceeding Friday before the auction and at most early Monday with a plea on the officer to help you file your application on time. If submitted after the 'grace' period they nevertheless debit your account in preparation for the upcoming auction.

Once in that shoe so I can fully relate.

It's either they don't consider you and not debit your account for that week or debit you and process your application.

First bank and indeed any other bank have no right to debit your account two or one week before the bid date as that will be fraudulent.
Usually they debit accounts for the next bid on the Monday before the Wednesday bid date so, understand what I am driving at when I said that once you are debited before the bid day, your application will be treated.