zamirikpo:


Oga ,oil plunged to below $40/ at the tail end of Jonathan's era but dollar didn't spike, go and check ur records.
The last time buhari ruled, his first move in office was to change our currency....little wonder the rush for dollar. And I am not talking about just individual hoarding, institutions were also in the race, go and confirm. Oil price drop that was happening gradually from the time of uncle jona cannot on its own account for such drastic spike from N200/ $ to N525/ $.

Then lastly try to accommodate people's opinion. Everyone cannot have the same views wrong or right.
Happy weekend.

it was not purely on oil ...foriegn investors withdraw 80 bn dollars from Nigeria,Jonathan used the reserve to defend the naira to 220 but pmb worsen the situation by baning 41 items restricting master card creating panic ,refusal to collect imf loan to stabilise the suitution,black market speculation ,hoarding ,etc it a coming of several factors who main blame is the poor action of the President

Olarewajub:
Happy Weekend

My treasury bill got matured earlier this month and since then, First Bank has refused to give back my investment. I've already contacted Firstcontact and their response is that they are investigating on the issue. But now everything seems to be like fraud. To the experienced folks here, what legal actions can i take to recover my money?

Unfortunately for me, I'm far away from the bank the TB was done. Nevertheless, I'll be storming any of their branch on Monday

In addendum, i got a call from a Lady this week claiming to be from First Bank. She only asked whether i took any loan and my response was negative. .

Good day to you,

It's OK to be alarmed if anything unusual is happening to your investment. However there are things you should be sure of before laying complaints.
1. Did you collect your proof/certificate of investment when you invest..? This is because if you have doubt on date, tenure, rate and maturity that is the best and easiest place to consult before the bank is the certificate. It also stands as your proof of investment but if you have deduction alert or notification it could also serve.
2. You make sure you check your account balance. On several occasions my funds have been personally dropped in my account with any alert or notification. From 9:00am of Thursday you fund matures it start dropping automatically except if you are to roll over.
3. You will have to remember if it primary or secondary market you invested in if possible note it down somewhere whenever you invest.. Reasons are; first the staff checking will know exactly what to check.. I once did a primary market investment with a branch of FBN and when I got there to collect my proof after a while they told me they couldn't find anything about me on that date. It was when I was about leaving after about 45mins that I remembered it could be an issue then I point that out to them and search and saw my name then printed it for me. Second is that while secondary market matures and get credited to your irrespective of whatever option you choose for reinvestment or not, Primary market do not get credited if you choose the option of reinvestment because FBN are the owner of their own custodian. They will only drop the money for if their bidding for that week is not successful if you choose the rollover option. If you chose to rollover with capital + interest you will only get any amount that is less than one thousand on your interest.

So before going there, check your account if the money was credited, if amount lesser that could be considered as interest or if any small money not up 1k was dropped/credited to your account that has NTB in its narrative. Also, note that any other branch apart from your branch of transaction may not be able to give you the certificate except maybe you request for the e-mail of through firstcontact@firstbankofnigeria.com.

Good luck as you go... I believe that nothing bad will happen to your cash. It will just be a misunderstanding somewhere.

Thank you to everyone who has enlightened me in one way or the other about my plight . I 'll visit the FBN closest to me and hope things are sorted out.
I' ll give an update.

Hello, good day I went to access bank to purchase treasury bills, I was told there was 97 days available with 9% interest rate, so I opt-in for it, after I fill the form, they told me that the interest rate is actually 2%, that they have to calculate it against 12 months, that it is 2% of my money that I would actually get for 97 days, is this true or I have being scammed.

temmy59:
Hello, good day I went to access bank to purchase treasury bills, I was told there was 97 days available with 9% interest rate, so I opt-in for it, after I fill the form, they told me that the interest rate is actually 2%, that they have to calculate it against 12 months, that it is 2% of my money that I would actually get for 97 days, is this true or I have being scammed.

Did you take your time to read this page from 1, If not please go and do so. !!!!

Abeg when is d next auction? Thanks

TONY56:


I for one will never opt for fixed deposit cause of the possible risk and the fact that there's no upfront or discounted rate coupled with the fact that whatever interest they pay is subject to being taxed by Government.

I have friends who were not able to access all their funds at the expiration of their termed fixes deposits cause their bank's were telling them stories and pleading to them to roll over.

That's just me for you

Hmmmm!

tunene66:


You can also try non banking financial institutions, which offer higher rates than banks

Such as?

alezzy13:
Abeg when is d next auction? Thanks

Next Wednesday, 2 May 2018. Endeavour to drop your instruction at your bank latest on Monday (to be on the safe side), if you are planning to invest.

Attached is the time table for NTB second quarter.

Yesterday Friday, I secure a tbills of 9.4% for 84days from Stanbic Ibtc secondary market.
I think Stanbic has a better rate for shorter days than first Bank rate, because I checked with fbn and this is what they gave me the same day:

29days for 8%
57days for 8.4%
64days for 8.5%
114days for 9%
190days for 10%

ImperialCovfefe:


Could you share more details about the transaction, Sir? The name of the bank, the discount rate it was sold, charges, et al.

Regards.

Bank name: Firstbank
Rate: depends on 2 factors which were 1) the number of days remaining for the tb to get to its maturity date 2) The present rate for that very day the tb was sold.
But i received a call few minutes from the time the investment was about to be auctioned on the amount of money that would be deducted from the principal base on those 2 aforementioned factors and i said i am okay by the figure. My account was credited in less than 20minutes after dropping the call...

simplibaba:


Bank name: Firstbank
Rate: depends on 2 factors which were 1) the number of days remaining for the tb to get to its maturity date 2) The present rate for that very day the tb was sold.
But i received a call few minutes from the time the investment was about to be auctioned on the amount of money that would be deducted from the principal base on those 2 aforementioned factors and i said i am okay by the figure. My account was credited in less than 20minutes after dropping the call...

Thanks for the info.

It is just 6 days after I successfully got Tbills from secondary market in access bank. I now intend to make another investment in Tbills using same account and bank. Advice from experienced ones needed please?

Ibrahim505:
It is just 6 days after I successfully got Tbills from secondary market in access bank. I now intend to make another investment in Tbills using same account and bank. Advice from experienced ones needed please?

Go ahead. You can invest with same bank using same account as many times as you want.

Oma255:
Yesterday Friday, I secure a tbills of 9.4% for 84days from Stanbic Ibtc secondary market.
I think Stanbic has a better rate for shorter days than first Bank rate, because I checked with fbn and this is what they gave me the same day:

29days for 8%
57days for 8.4%
64days for 8.5%
114days for 9%
190days for 10%

What are d comparative tenors and rates for Stanbic?
Thanks for d info.

Ibrahim505:
It is just 6 days after I successfully got Tbills from secondary market in access bank. I now intend to make another investment in Tbills using same account and bank. Advice from experienced ones needed please?

I have different Treasury Bills with same bank... Just go and apply....

dejiotus:


Next Wednesday, 2 May 2018. Endeavour to drop your instruction at your bank latest on Monday (to be on the safe side), if you are planning to invest.

Attached is the time table for NTB second quarter.

Many thanks for this.

Can someone kindly provide a standard template for Treasury bills instructions?

jidobaba:
Can someone kindly provide a standard template for Treasury bills instructions?

Is this ok for you?

dotcomnamename:

Is this ok for you?

Thanks boss.

dejiotus:


Next Wednesday, 2 May 2018. Endeavour to drop your instruction at your bank latest on Monday (to be on the safe side), if you are planning to invest.

Attached is the time table for NTB second quarter.

I am interested in investing in the primary auction of TB coming on the 2nd of May. Unfortunately, I am currently not in the country. I have sent a mail to my account officer but she is yet to reply. I am wondering what i could possibly do now so as not to miss this opportunity..

If you have account with access bank you can apply online using tbills.ng

DInkMan:


What are d comparative tenors and rates for Stanbic?
Thanks for d info.

.

84days for 9.4%
148 days for 10%
232days for 10.55%
PS.
This is as at that day, not today.

Ibrahim505:
It is just 6 days after I successfully got Tbills from secondary market in access bank. I now intend to make another investment in Tbills using same account and bank. Advice from experienced ones needed please?

Pls what are the rate and days?
Thanks.

Oma255:
.

84days for 9.4%
148 days for 10%
232days for 10.55%
PS.
This is as at that day, not today.

Thank u.

The rates are fast declining.

Ibrahim505:
If you have account with access bank you can apply online using. https://tbills.ng

It just got better .. but those rates though

Olarewajub:
Happy Weekend

My treasury bill got matured earlier this month and since then, First Bank has refused to give back my investment. I've already contacted Firstcontact and their response is that they are investigating on the issue. But now everything seems to be like fraud. To the experienced folks here, what legal actions can i take to recover my money?

Unfortunately for me, I'm far away from the bank the TB was done. Nevertheless, I'll be storming any of their branch on Monday

In addendum, i got a call from a Lady this week claiming to be from First Bank. She only asked whether i took any loan and my response was negative. .

#Update

I went to the FBN closest to me. The TB officer was not so sure about why i still haven't received my money especially with the fact the application was not done through his bank. I was directed to meet with the Branch Manager. I filled a complaint form and a mail was sent to the branch the TB application was made. I received my money few minutes ago. Nevertheless, i suspect a foul play from the Branch i did the TB. I guess I'll just allow sleeping dogs lie. Anyway, Thanks to everyone.

Will it be possible to send in my application tomorrow because it seems the window for TB closed today?

Olarewajub:


#Update

I went to the FBN closest to me. The TB officer was not so sure about why i still haven't received my money especially with the fact the application was not done through his bank. I was directed to meet with the Branch Manager. I filled a complaint form and a mail was sent to the branch the TB application was made. I received my money few minutes ago. Nevertheless, i suspect a foul play from the Branch i did the TB. I guess I'll just allow sleeping dogs lie. Anyway, Thanks to everyone.

I am happy that you finally got your money.

Olarewajub:
Will it be possible to send in my application tomorrow because it seems the window for TB closed today?

First off, tomorrow has been declared a public holiday. Secondly, I think you need to invest at least 48 hours to the bid date.

Agbaletu:

First off, tomorrow has been declared a public holiday. Secondly, I think you need to invest at least 48 hours to the bid date.

So what are you saying? If people didnt bid earlier then its a wrap for the week?

Olarewajub:


#Update

I went to the FBN closest to me. The TB officer was not so sure about why i still haven't received my money especially with the fact the application was not done through his bank. I was directed to meet with the Branch Manager. I filled a complaint form and a mail was sent to the branch the TB application was made. I received my money few minutes ago. Nevertheless, i suspect a foul play from the Branch i did the TB. I guess I'll just allow sleeping dogs lie. Anyway, Thanks to everyone.

This is good news...But,this is not an issue to be overlooked......Personally,i will advise you investigate further to find out the true reasons why you weren't credited as at the Maturity date by your Bank....I smell foul play here....Take it very serious so that such won't repeat itself again.....ok ask yourself this question,what if you were overseas,it will even be most complicated to resolve...