freeman67:


No.. The charges have already been deducted from you interest. That 114k is what you will get.

Aim07:
This what i got from my investment with fbn, does it mean my principal will still be charged for those charges? what does d 0.0 naira interest indicate?

amt invested 105k
tenor 290days
rate 11%
28/05/18 to 14/03/19
principal at maturity 114k
interest #0.00

please note that ur interest on investment is subject to these charges 0.1% custody fee, #100 transaction fee and 5% VAT.

i need answers please

NL1960:


How much was debited from your account?. Was it the 105k invested?.

Aim07:
This what i got from my investment with fbn, does it mean my principal will still be charged for those charges? what does d 0.0 naira interest indicate?

amt invested 105k
tenor 290days
rate 11%
28/05/18 to 14/03/19
principal at maturity 114k
interest #0.00

please note that ur interest on investment is subject to these charges 0.1% custody fee, #100 transaction fee and 5% VAT.

i need answers please

I think the investment was made together with the upfront interest. That explains why principal at maturity will be 114 k and not 105k.

awesomeJ:


I think the investment was made together with the upfront interest. That explains why principal at maturity will be 114 k and not 105k.

freeman67:


No.. The charges have already been deducted from you interest. That 114k is what you will get.

awesomeJ:


I think the investment was made together with the upfront interest. That explains why principal at maturity will be 114 k and not 105k.

freeman67:


No.. The charges have already been deducted from you interest. That 114k is what you will get.

ok thanks to u all for ur prompt response

awesomeJ:


I think the investment was made together with the upfront interest. That explains why principal at maturity will be 114 k and not 105k.

Yes.. . So the charges were taken...

I want to go to my bank tomorrow morning and tender my bid for treasury bill. I just want to ask for the reasonable rate to bid for 365 days considering the fact rates are down recently.

N425b T-Bills Mature This Week as CBN Offers N181b via PMA
https://www.businesspost.ng/2018/06/11/n425b-t-bills-mature-this-week-as-cbn-offers-n181b-via-pma/

Source: Nairametrics Report - Fixed Income weekly report.

Q3 2018 NTB calendar shows a neutral FG borrowing stance: The CBN released the Q3 2018 calendar for NTB issuance which shows planned government borrowings at NGN1.1 trillion set against maturities of the same amount. In simple terms, the FG borrowing is simply rolling over what is maturing, which implies that on a net basis, no fresh borrowings.

That said, the 3M and 6M tenors are net issuances, while the 1-yr tenor is a net repayment. The calendar marks the end of the net repayment pattern over the last two quarters which underpinned robust system liquidity and implies likely upward pressures on the front-end of the yield curve.

I got 11% for 58days
Face value: #1,240,000
Bank: Stanbic IBTC
Charged Deducted:#300
They debited me 2hrs after I submitted my form.
They also have 11.22 and 11:4 for longer tenor (Nov and Dec)

Bye Bye to Union Bank

Have a blessed week y’all

So rates may go up abi

I need the rates to be up

whats the best bank for treasury bills ?

Money Market Rates Surge by 7.13% as T-Bills Yields Shrink to 12.77%
https://www.businesspost.ng/2018/06/12/money-market-rates-surge-by-7-13-as-t-bills-yields-shrink-to-12-77/

Please how does it work with secondary market rates? Like do you tell your bank you have 250,000 naira and you would like the rate of 15%? Or do you just tell them that you have 250,000 Naira and they should find a treasury bill under 250,000 Naira that is selling for 15%? I giuess my question is: do you pick the rate as well as the amount? Or do you just pick a rate and let the amount be decided by whoever is giving up their bond early.

Thanks

Nnamz:
Please how does it work with secondary market rates? Like do you tell your bank you have 250,000 naira and you would like the rate of 15%? Or do you just tell them that you have 250,000 Naira and they should find a treasury bill under 250,000 Naira that is selling for 15%? I giuess my question is: do you pick the rate as well as the amount? Or do you just pick a rate and let the amount be decided by whoever is giving up their bond early.

Thanks

No. Customers do not dictate the rate in the secondary market. The bank will tell you the available rates and tenors, and you will pick what you desire (ie the rates and for how many days (tenor)). You can buy any amount you want as long as the amount is available and it is more than the minimum amount allowed by the bank in the secondary market. For example the minimum amount you can buy in the secondary market with Stanbic is 500K.

Thanks for your response. So when would a customer pick their own rate? On Zenith Bank Treasury bills form you can either go with the bank bid rate, or the customer bid rate, and enter your preferred rate under this customer bid rate.

Nnamz:
Thanks for your response. So when would a customer pick their own rate? On Zenith Bank Treasury bills form you can either go with the bank bid rate, or the customer bid rate, and enter your preferred rate under this customer bid rate.

That would be for primary markets. In that case you decide the rate you want for the next auction. If the rate you choose is less than the rate the CBN is ready to buy your bid is successful.

Ifelove1:
That would be for primary markets. In that case you decide the rate you want for the next auction. If the rate you choose is less than the rate the CBN is ready to buy your bid is successful.

Please help remind them that they need minimum of 50m to fix their rates. Wish them luck.

Nnamz:
Thanks for your response. So when would a customer pick their own rate? On Zenith Bank Treasury bills form you can either go with the bank bid rate, or the customer bid rate, and enter your preferred rate under this customer bid rate.

And if the rate you choose is more than CBN stop rate, then your bid will not be successful. Also you can only choose your bidding rate if you are buying Treasury bills of more than 50 million in the primary market

So what exactly is the difference between the primary and secondary market, in terms of rate?

Nnamz:
So what exactly is the difference between the primary and secondary market, in terms of rate?

Primary: You choose your rate when you bid.
Secondary: The bank/investment house has gotten the bills from the primary market at certain rates. When you want to purchase it from them you buy at the rates they have already i.e. You know beforehand the exact rate you are getting.
Any of the rates may be higher depending on some factors.

Is it a coincidence that my girlfriend's name is Ife and I sometimes call her Ife love and here the handle of thelovely lady answering my question is Ifelove. Haha

will there be another auctioning around nov-dec

Nnamz:
Is it a coincidence that my girlfriend's name is Ife and I sometimes call her Ife love and here the handle of thelovely lady answering my question is Ifelove. Haha

Haha... I am a guy

Hello ladies and gentlemen , please anyone bid with FBN I am yet to be debited, or is there no auction today.

here is result from today's Primary Market Auction from easykobo


link is here https://www.easykobo.com/News.aspx?id=20119

Please for some of us that don't have up to this millions and hundreds of thousands, which firm can do 100k? What is FBN's lowest? Thanks

Good news.
Rates have started going north.

brandable:
Hello ladies and gentlemen , please anyone bid with FBN I am yet to be debited, or is there no auction today.

same here,zenith bank

Apitch:
Please for some of us that don't have up to this millions and hundreds of thousands, which firm can do 100k? What is FBN's lowest? Thanks

First Bank

datovid:



same here,zenith bank

Minimum of 1m in Zenith Bank.

yinka2011:
here is result from today's Primary Market Auction from easykobo


link is here https://www.easykobo.com/News.aspx?id=20119

positive signs , anyone bid with stanbic for 364days, I hope it succeeded.

has any1 been debited today for tbills?

zamirikpo:


positive signs , anyone bid with stanbic for 364days, I hope it succeeded.

we need it back at 15 this is fair rate make we make a real profit of 3 percent annually