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.

Thanks. Forgot tomorrow was holiday.

Gavrelino123:

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...

My thoughts exactly. Immediately the branch i did my TB was contacted, my money appeared in my account immediately. That means my money has been lying some where since 5th April. I was silent about the issue since 5th April Because i was really busy with a project, didn't want anything to distract me psychologically.

How best do you think i go over the matter. Would the FBN Officers over here be willingly to assist?

zinaunreal:


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

You can't submit your bid a day to the bid day. You must have submitted it not less than 2 days before the bid day.

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.

oga I have tried to educated u on this ..they rollover your principal and interest this is written in the foot notes of investment letter that if no instruction at expiration they will roll over at prevailing rates....i don't it several times with millions ....it written get u investment letter

ahiboilandgas:
oga I have tried to educated u on this ..they rollover your principal and interest this is written in the foot notes of investment letter that if no instruction at expiration they will roll over at prevailing rates....i don't it several times with millions ....it written get u investment letter

I'm i not entitled to an interest if my investment was rolled over?

Guys please I need your opinion here..... although not related. But I need a different viewpoint.

So on 22/11/17 I was suppose to be credited the Naira equivalence of $5566 USD to my local Naira account. ( I regret not using a dorm account). So the bank converted #320*5566, while the other exchanges were ranging btw 359 - 360# to $1.
I have checked the exchange rate on that day (oanda.com and xe.com) but the exchange rate was 359 on 22/11/2017.

Please can anyone help me with info, link or how I can find out the prevailing exchange rate local banks use.

This is broad day light rape..

sunvick:
Guys please I need your opinion here..... although not related. But I need a different viewpoint.

So on 22/11/17 I was suppose to be credited the Naira equivalence of $5566 USD to my local Naira account. ( I regret not using a dorm account). So the bank converted #320*5566, while the other exchanges were ranging btw 359 - 360# to $1.
I have checked the exchange rate on that day (oanda.com and xe.com) but the exchange rate was 359 on 22/11/2017.

Please can anyone help me with info, link or how I can find out the prevailing exchange rate local banks use.

This is broad day light rape..

The banks buys at a cheaper price and sells at a very high price. That's how they deal man.

Olarewajub:



My thoughts exactly. Immediately the branch i did my TB was contacted, my money appeared in my account immediately. That means my money has been lying some where since 5th April. I was silent about the issue since 5th April Because i was really busy with a project, didn't want anything to distract me psychologically.

How best do you think i go over the matter. Would the FBN Officers over here be willingly to assist?

I'm sure they won't want to betray their own.....All you need to do is go back to your branch and question them strictly.....tell them you are loosing confidence in them.
You have to get to the root of it...
Let them give you the details on what happened themselves....then you can carefully analyse it.

Olarewajub:


I'm i not entitled to an interest if my investment was rolled over?

Hmmm....! It depends ooo... I once gave an instruction for my investment to be terminated and the instruction was not carried out. When I got there and discovered it was rolled over I told them I didn't ask them to rollover.. They calmed me down and promised it be resolved the TB was resold in the Secondary Market with lesser percentage and part of the interest I earned from the first one was eroded.

freeman67:


Hmmm....! It depends ooo... I once gave an instruction for my investment to be terminated and the instruction was not carried out. When I got there and discovered it was rolled over I told them I didn't ask them to rollover.. They calmed me down and promised it be resolved the TB was resold in the Secondary Market with lesser percentage and part of the interest I earned from the first one was eroded.

All these are happening because the investments were done with First Bank. That's one of the reasons I stick to my darling Stambic. There's no roll over with them and no reinvestement of upfront profit. So nobody will tell me that my money was rolled over or that my interest was mistakenly reinvested.

I am also aware that some investors too don't like Stambic cause of the very reason why I like them.

"One man's meat is another man's poision"

TONY56:



All these are happening because the investments were done with First Bank. That's one of the reasons I stick to my darling Stambic. There's no roll over with them and no reinvestement of upfront profit. So nobody will tell me that my money was rolled over or that my interest was mistakenly reinvested.

I am also aware that some investors too don't like Stambic cause of the very reason why I like them.

"One man's meat is another man's poision"

Very true... I was actually using Stanbic before FBN and the funny thing is that I started using FBN because of that rollover principal + interest option but if it fails it can go either way.

TONY56:



All these are happening because the investments were done with First Bank. That's one of the reasons I stick to my darling Stambic. There's no roll over with them and no reinvestement of upfront profit. So nobody will tell me that my money was rolled over or that my interest was mistakenly reinvested.

I am also aware that some investors too don't like Stambic cause of the very reason why I like them.

"One man's meat is another man's poision"

I stop using first for that reason but seem I have to go back cos failed bids

when will i have 1miilion in my account \?

Buffalowings3:
when will i have 1miilion in my account \?

Believe Man! Things happen!

Buffalowings3:
when will i have 1miilion in my account \?

I used to pray for 100k. Now i got millions. Nothing is impossible

CBN Sells N191b Treasury Bills Today at Primary Market
https://www.businesspost.ng/2018/05/02/cbn-sells-n191b-treasury-bills-today-at-primary-market/

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.

9% for 12months would amount to
9 ÷ 12 = 0.75% per month

In three months (97days) you ought to get
3 × 0.75 = 2.25%

Not 2%

zinaunreal:


I used to pray for 100k. Now i got millions. Nothing is impossible

Nice one. i am open to other open minds here if u want to direct

02/05/2018

ImperialCovfefe:
02/05/2018

everything done scatter guess it time to buy truck or bond

ImperialCovfefe:
02/05/2018

This is incredibly low. I went to Zenith bank today to make enquiries and was told i cant buy tbills for less than N1M and that would be in two weeks as auction bids had already commenced. I have a few questions please:

1. I understand some people purchased Tbills worth less than a million (like 100k earlier)? If yes, where can i buy those?
2. I dont really understand the dynamics of primary and secondary market but isn't there a way i can still purchase tbills without having to wait till two weeks again when rates would have reduced further?

michellez:


This is incredibly low. I went to Zenith bank today to make enquiries and was told i cant buy tbills for less than N1M and that would be in two weeks as auction bids had already commenced. I have a few questions please:

1. I understand some people purchased Tbills worth less than a million (like 100k earlier)? If yes, where can i buy those?
2. I dont really understand the dynamics of primary and secondary market but isn't there a way i can still purchase tbills without having to wait till two weeks again when rates would have reduced further?

Rates are going to go lower, still.

1) Different banks with different minimum amounts. Stanbic, First Bank, and FCMB will allow you purchase Tbills with N100k.

2) You can purchase tbills anytime from the banks’ secondary market (kind of informal and opaque) or from the FMDQ OTC using an investment house (such as Investment One, ARM, Afrinvest, or Axa mansard).

The banks will tell you their prevailing secondary market rates for the day. (You can get an indication of the yields to expect by checking the NITTY daily fixing).

The investment houses (at least the good ones) will purchase NTBs for you from FMDQ with a reduction in the discount rates (see attached) representing their charges.

ahiboilandgas:
everything done scatter guess it time to buy truck or bond

It's time to pack off.

ImperialCovfefe:
02/05/2018

They should leave this thing at 10. What happen na. Dem know want make we chop again?

lowkey28:


It's time to pack off.

but taught there offered 165 bn for 1 year

ImperialCovfefe:


Rates are going to go lower, still.

1) Different banks with different minimum amounts. Stanbic, First Bank, and FCMB will allow you purchase Tbills with N100k.

2) You can purchase tbills anytime from the banks’ secondary market (kind of informal and opaque) or from the FMDQ OTC using an investment house (such as Investment One, ARM, Afrinvest, or Axa mansard).

The banks will tell you their prevailing secondary market rates for the day. (You can get an indication of the yields to expect by checking the NITTY daily fixing).

The investment houses (at least the good ones) will purchase NTBs for you from FMDQ with a reduction in the discount rates (see attached) representing their charges.

Thanks for your insightful response, in terms of the best rates which do you think i should explore first - The bank's secondary market or head straight to the FMDq's?

ahiboilandgas:
but taught there offered 165 bn for 1 year

I thought as much but with what I saw, No good man.

Ggg

Has anyone got credited for upfront interest for 364 days tenor today with First bank ?

Jejebaba:
Has anyone got credited for upfront interest for 364 days tenor today with First bank ?

Ha. @jejebaba today today.......bros chill ooh. Na from tomorrow or Friday sef. Remember yesterday was public
Holiday.
Then someone should halt this TB rates ooh.....10% minimum abeg.

michellez:


Thanks for your insightful response, in terms of the best rates which do you think i should explore first - The bank's secondary market or head straight to the FMDq's?

The bank is convenient and straightforward. You may have to be more proactive to elicit responses from the investment houses.