Chienex24:


Pls how much did you use to buy? Because I am planning on buying but i am with only a paltry sum of 450k....

To be Frank, 450k is a small to Tbills. if you really want to enjoy Tbills, you need millions of nairas

itisco:
Hello house, pls when is the next tbills auction and also the prevailing rate?

Any information on the next primary auction date,please? The CBN website did not publish any dates in March for 2018 First quarter and the last week of March should be out due public holiday on Friday 30th.

Anyone with information on the next bidding day should please share to minimize anxiety,ehn

They are not scammers... I was contributing 50k per month for 5yrs and at maturity they paid the capital and a little interest. Note that it's not a savings or investment scheme.... it's an insurance scheme meaning if anything happens to you during the insured period, u get the sum assured to fix you... In this case 30million.

osayande2012:



i had similar experiencd with mutual benefit. i got less than what i contributed.They are just scammers.My account officer is a fraudster and d company is protecting him.

Good morning people, I wanted to send in my update for the Gtbank wahala but you know you can easily lose track of time on a friday .. Well after I got to the bank that yesterday morning and went straight to customer service and told them I wanted to see the manager. They already understood what was coming so they called one of their operations manager or head of operations or something... ok I think it was line manager. He met me and I told him I was going to cause a scene, I was really dramatic (omg)... anyway when I was done talking he started to explain the whole bidding, auction and subscription process and how HR handles the behavior of their staff and other related matter, like i was a new recruit; Bros! I just want 5 Million Naira TBills!! Today!!! I told him. It was processed within the following hours and I got 12% for 103 days, the discounted sum was debit from account around 5pm yesteday. Im sure it will be a smooth process from now on.

fodukes:
Good morning people, I wanted to send in my update for the Gtbank wahala but you know you can easily lose track of time on a friday .. Well after I got to the bank that yesterday morning and went straight to customer service and told them I wanted to see the manager. They already understood what was coming so they called one of their operations manager or head of operations or something... ok I think it was line manager. He met me and I told him I was going to cause a scene, I was really dramatic (omg)... anyway when I was done talking he started to explain the whole bidding, auction and subscription process and how HR handles the behavior of their staff and other related matter, like i was a new recruit; Bros! I just want 5 Million Naira TBills!! Today!!! I told him. It was processed within the following hours and I got 12% for 103 days, the discounted sum was debit from account around 5pm yesteday. Im sure it will be a smooth process from now on.

I am happy you were there yesterday to "display" for them.
Do you know that all they told you were lies?
Do you know that it was the same offer they did not process for you two days ago that you still bought?
Two days ago, it was 104days at 12%, and yesterday it naturally would be 103days.

Those people are simply callous and just wanted to punish you for moving your money from them at stupendously low interest to Federal Government''s TB and in the process, they also delayed the sale for the original owner by one day.

At any rate it's still okay that they now know that you can't be taken for a ride as you know what you want and what to do. If it were First or Stambic Bank, for secondary market, you are likely in many cases to get everything done with your account debited before you leave the bank if you got there early enough.

If you still intend to do TB with them, i advise you just walk into another branch and ask for the guys in charge of TB there. Your accounts officer will only see it in your account later.

Do have a beautiful weekend

fodukes:
Good morning people, I wanted to send in my update for the Gtbank wahala but you know you can easily lose track of time on a friday .. Well after I got to the bank that yesterday morning and went straight to customer service and told them I wanted to see the manager. They already understood what was coming so they called one of their operations manager or head of operations or something... ok I think it was line manager. He met me and I told him I was going to cause a scene, I was really dramatic (omg)... anyway when I was done talking he started to explain the whole bidding, auction and subscription process and how HR handles the behavior of their staff and other related matter, like i was a new recruit; Bros! I just want 5 Million Naira TBills!! Today!!! I told him. It was processed within the following hours and I got 12% for 103 days, the discounted sum was debit from account around 5pm yesteday. Im sure it will be a smooth process from now on.

Nice one...That's the spirit!!!

fodukes:
Good morning people, I wanted to send in my update for the Gtbank wahala but you know you can easily lose track of time on a friday .. Well after I got to the bank that yesterday morning and went straight to customer service and told them I wanted to see the manager. They already understood what was coming so they called one of their operations manager or head of operations or something... ok I think it was line manager. He met me and I told him I was going to cause a scene, I was really dramatic (omg)... anyway when I was done talking he started to explain the whole bidding, auction and subscription process and how HR handles the behavior of their staff and other related matter, like i was a new recruit; Bros! I just want 5 Million Naira TBills!! Today!!! I told him. It was processed within the following hours and I got 12% for 103 days, the discounted sum was debit from account around 5pm yesteday. Im sure it will be a smooth process from now on.

I didn't get up to 12% in my own o. I used 200k and a discounted sum of about 194k was deducted

Why does Gtbank always sat you should write a letter to the branch you opened your account when you want to do tbills

1wolex85:
Why does Gtbank always say you should write a letter to the branch you opened your account when you want to do tbills

To discourage you. Simple.

Team nice jobs you guys are doing in this forum. Still on GTB, I put up my T bills actually due for maturity in 57 days for sale in the secondary market and to greatest surprise what was deducted from my initial face value is unspeakable. When I calculated it base on percentage, they are charging me like 30% for the 57 days. Simple language lets assume

invested N13,700,000
Date : 4th may 2017
Expected maturity : 3rd May 2018

Date my account was credited 8th of March
Amount paid : N13,058,000.

Currently I am out of town, I have been calling my account officer to know what happened but so far I have not gotten any reasonable info. I am loosing lose to 650k for just 57 days . Please expert in the house I need your advice on this .

PROPERTY FOR SALE IN AGBOJU AMUWO

Property includes:
• 4 bedroom duplex,
• 3 bed BQ & 2 bedroom guesthouse.
• Garage to park 2 cars.
• On 3 plots of land
• C of O is available.
• Property sits on 1818sqm piece of land.
• Fenced compound in a residential area
• Price: N55m (negotiable)

Property is within the vicinity of Satellite town, Festac town and Navy town.
It is off Badary Express with the convenience of markets, shops, Hotels, Schools, Fuelling/Filling stations, Police station and banks just to mention a few.

Interested buyers should contact us at: iandorealtyng@gmail.com, 09080768266

Alakwa:
Team nice jobs you guys are doing in this forum. Still on GTB, I put up my T bills actually due for maturity in 57 days for sale in the secondary market and to greatest surprise what was deducted from my initial face value is unspeakable. When I calculated it base on percentage, they are charging me like 30% for the 57 days. Simple language lets assume

invested N13,700,000
Date : 4th may 2017
Expected maturity : 3rd May 2018

Date my account was credited 8th of March
Amount paid : N13,058,000.

Currently I am out of town, I have been calling my account officer to know what happened but so far I have not gotten any reasonable info. I am loosing lose to 650k for just 57 days . Please expert in the house I need your advice on this .

The initial rate given to you at the time of investment and the amount given as interest upfront will help... Also you have to look @ your proof/certificate of investment and be sure GT does not have a some kind of outrageous charge for termination before maturity...

The money deducted seem to be somehow high.

Alakwa:
Team nice jobs you guys are doing in this forum. Still on GTB, I put up my T bills actually due for maturity in 57 days for sale in the secondary market and to greatest surprise what was deducted from my initial face value is unspeakable. When I calculated it base on percentage, they are charging me like 30% for the 57 days. Simple language lets assume

invested N13,700,000
Date : 4th may 2017
Expected maturity : 3rd May 2018

Date my account was credited 8th of March
Amount paid : N13,058,000.

Currently I am out of town, I have been calling my account officer to know what happened but so far I have not gotten any reasonable info. I am loosing lose to 650k for just 57 days . Please expert in the house I need your advice on this .

My brother, you have not given sufficient informations for anyone to know if the deduction is "unspeakable".

1.At what rate did you buy at the Primary market?
2 At what rate was it sold at the secondary market?

Since you bought on 4th may, your buying rate should be between 17 & 18.5% depending on your bank.

Let's assume you bought at 17%, it would mean you got about N2,329,000 as upfront interest.

Since you sold 57days before due date, you will be debited N2,329,000 × (57/364) = N364,706.04 for excess earnings. Note that if it was purchased at 18% or more, it will be higher.

The last stop rate for 91days was around 11% and your sale was for only 57days. Let's assume that it was sold at 9%. It means it was sold at a loss of 8% since TB rates has fallen. Then the sale at 9% discount = N13,700,000 × (9/100) × (57/364) = N193,079.67. Which will also be debited to your account. Note also that if it was sold at 10% or higher, this amount will also increase.

The total deductions from your N13,700,000 (excluding bank charges) and assuming that my assumptions are correct which I doubt, = N364,706.04
+N193079.67
=N557,785.7.

So, if the rates you bought the TB last year May is higher than my estimated rate of 17% the deduction will increase. Also, if the rate it was sold at the Secondary market was equally higher than my estimated 9%, it will also increase the deductions further.

You are lucky that your investment was not with Union Bank in which case, you would have equally been debited another 25% of the upfront interest you received.

Happy Sunday everyone.

Hope you were in church today.

So there are these two things I've observed, and I'd like to talk on the second one which may concern some of us.

1. There are students who think Maths is hard, based on what some "influential" people tell them, What I've found is those influential people are often ones with incomplete knowledge in that field.

2. In a similar vein, there are those who think investing in the stock market is what proves you to be a smart, expert, or mature investor. This is as well often based on what some stock market participants try to make them believe.

As great as the market can be, going in there just so you can prove to whomever that you're smart is a pretty wrong motivation, just as jumping into T-bills because you expect to earn 13.5% monthly is wrong.

While Cryptos may be great if you've fully mastered their workings, getting into them purely out of greed would be dangerous.

If as an individual you already have an investment portfolio worth X amount, that to anyone is the proof of your smartness. Because that X amount is not what just any fool can have.

On the other hand, if you could develop a brilliant risk hedging strategy for the market, such that you can guarantee for yourself some pretty decent returns, it would be wrong for you to stay away from there for fear of things you could walk around.

Your risk averseness and your personal financial goals should be the primary things that determine the investment vehicles you choose. And a vehicle should only become attractive if it offers a great balance of investment safety versus returns.

A well diversified but synchronized portfolio in vehicles which are all safe and have great velocities would concertedly get us all to our financial destinations quicker.


P.S I am not speaking against investing in stocks. I actually have a tiny portfolio for it. I am just saying we shouldn't get into investments for some silly reasons.

Above all, God's blessings amplify our efforts, and secure our successes.

Have an awesome new week.

Please, in order to have an idea, what are the requirements in opening TB account in let's say GTB bank, even when someone has a savings account with them already?

Chienex24:
Please, in order to have an idea, what are the requirements in opening TB account in let's say GTB bank, even when someone has a savings account with them already?

You don't need to open another account specially for TB. Your existing savings or current account with them is enough to invest in TB

Hello guy, did anyone know how arm mutual discovery funds works?

Alakwa:
Team nice jobs you guys are doing in this forum. Still on GTB, I put up my T bills actually due for maturity in 57 days for sale in the secondary market and to greatest surprise what was deducted from my initial face value is unspeakable. When I calculated it base on percentage, they are charging me like 30% for the 57 days. Simple language lets assume

invested N13,700,000
Date : 4th may 2017
Expected maturity : 3rd May 2018

Date my account was credited 8th of March
Amount paid : N13,058,000.

Currently I am out of town, I have been calling my account officer to know what happened but so far I have not gotten any reasonable info. I am loosing lose to 650k for just 57 days . Please expert in the house I need your advice on this .

We are all in Nigeria, You could have just waited for the remaining 57days. if you could wait for over 300days what's wrong with 57days Now they are playing games with 650k.. Sorry man.

Alakwa:
Team nice jobs you guys are doing in this forum. Still on GTB, I put up my T bills actually due for maturity in 57 days for sale in the secondary market and to greatest surprise what was deducted from my initial face value is unspeakable. When I calculated it base on percentage, they are charging me like 30% for the 57 days. Simple language lets assume

invested N13,700,000
Date : 4th may 2017
Expected maturity : 3rd May 2018

Date my account was credited 8th of March
Amount paid : N13,058,000.

Currently I am out of town, I have been calling my account officer to know what happened but so far I have not gotten any reasonable info. I am loosing lose to 650k for just 57 days . Please expert in the house I need your advice on this .

Considering what you received as your upfront interest with the rate last year May, you received above 2m(roughly 2.5m as at then) on the amount you invested. Now remove #650k from your upfront interest that you have already enjoyed. To my own understanding, you are not on the loser side

hello guys I just left FBN got 13.30% for 136 days secondary market, invested 1m and got 49k upfront interest . Hope is fair enough

Chienex24:


Pls how much did you use to buy? Because I am planning on buying but i am with only a paltry sum of 450k....

That one doesn't concern you. Carry your money and go and buy... Alakoba!!!

Investors Anticipate N153b Maturing Treasury Bills
https://www.businesspost.ng/2018/03/12/investors-anticipate-n153b-maturing-treasury-bills/

Hello oooooo,

Is Primary auction bidding happening this week? Or when next is that happening ? All the info I've been seeing is for Secondary market sales and maturing TB.

The last one I saw was for Q1 2018 and there was only one primary issuance this month. Does anyone have the Q2 2018 calendar yet?

Damolaskynov:
Hello oooooo,

Is Primary auction bidding happening this week? Or when next is that happening ? All the info I've been seeing is for Secondary market sales and maturing TB.

Pharmtj:
hello guys I just left FBN got 13.30% for 136 days secondary market, invested 1m and got 49k upfront interest . Hope is fair enough

That's the exact amount you are to get considering the amount of money you invested.

hello bosses in d haus.. pls wic is better in treasury bills, primary or secondary market..??

lowkey28:


That's the exact amount you are to get considering the amount of money you invested.

is still far better than living the morning in savings account

Ikmontana1:
hello bosses in d haus..
pls wic is better in treasury bills, primary or secondary market..??

bros just try read small na from page 1 Biko.... lol

Pharmtj:
bros just try read small na from page 1 Biko.... lol

Seconded

Pharmtj:
is still far better than living the morning in savings account

I'm not against your investment man. You do what you want with your message money.

katamo:
The last one I saw was for Q1 2018 and there was only one primary issuance this month. Does anyone have the Q2 2018 calendar yet?

Great to have you around boss.
I don't think the DMO has given any instruction regarding swapping. So since there are papers maturing this Thursday, the CBN will have to hold a PMA this Wednesday 14th March, and another by next Wednesday 21st March, to mark the first 2 auctions for Q2'18.

The downside though is a likely drop in rates by Q3 should the DMO decide to substitute the whole $2.5bn eurobond proceeds by Q3.
It would have been less steep if it was spread over 2-3 quarters.

@Alakwa.
There are banks that'd have rediscounted your bills at the prevailing rates, and that would have been 12% at most for 57 days. Then the amount deducted would have been about 260,000 representing the upfront interest to the new buyer. So you would have been credited with about 13.44m.

But I once read here, someone saying that GTB doesn't rediscount at prevailing market rates, but rather at the rate at which the initial investment was sealed.

So if that's to be the case, the amount debited from your account should have been about 390K, implying that you should have gotten 13.31m back in your account.

As it is now, there's about 260,000 of your money whose whereabouts have no meaningful explanation yet.

Like others have said, you need to contact the bank with questions. Confirm the original amount that they invested for you as well as the discount rates on purchase and at termination.
Maybe the initial investment was a little below 13.7 m, Not likely, but still make sure.

260,000 is more than what some graduates earn in a year!
Plus if you want to dash people money, it shouldn't be banks that makes almost 3 billion naira each working day.