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Nairaland Forum / Nairaland / General / Investment / Treasury Bills In Nigeria (4616737 Views)
Fixed Deposits Or Treasury Bills, Which Is Better? / Fixed Deposit And Treasury Bill Investments From Abroad / I Need Information On Treasury Bills In Nigeria (2) (3) (4)
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Re: Treasury Bills In Nigeria by Kemade2007(f): 10:33pm On Sep 03, 2018 |
TONY56: They did same thing o. When I called the Headquarter, they checked my transaction and told me that I reinvested my interest but I told the guy on phone that I didn't so he told me to go to the bank. So I rushed to the Bank few minutes to 4pm. When I got to the bank, the Tb officer said I will get my interest by tomorrow (Tuesday), so I started with them that I didn't understand why my interest should be postpone till tomorrow since last week Friday. Later, I realized that he didn't know much about Tb. So I explained to him, I even took along two of my past certificate and I showed how the transaction supposed to be. Thereafter, he went to meet some of his colleagues and came back to tell me my interest was mistakenly reinvested that I should write a letter to get the interest back. Though I was so confused but annoyingly I wrote the letter, then I collected his number because he said I will get my interest by tomorrow and left. Luckily, I received my TB notification mail confirming my investment with the interest added to the face value to be collected at maturity. So I just called the guy that he should not process the letter again and explain to him. Just to go to the bank to get my Hard copy |
Re: Treasury Bills In Nigeria by Kemade2007(f): 10:42pm On Sep 03, 2018 |
Agbaletu: Yes that's what they told me even from Hq bt when I asked for it he said they are unable to print it. Thank God, I have received the notification this evening confirming it. By tomorrow or next, I will go for the hard copy. Thanks all |
Re: Treasury Bills In Nigeria by lolaluv1(f): 11:13pm On Sep 03, 2018 |
Good evening all. I did a TB transaction at one of the existing banks and the account officer told me to write on the instruction that the TB should be invested "at the prevailing rate". She never gave me a rate at which to invest. I was later debited and my interest was paid upfront. Also, what is the use of this TB certificate, as I didn't go back for mine for safety reasons as I don't want people to come across such sensitive information. |
Re: Treasury Bills In Nigeria by Nobody: 5:35am On Sep 04, 2018 |
lolaluv1: I use the cert to remember my maturity days as I tend to forget some transactions. It's actually a proof that you invested incase of unforeseen circumstances. Anything can happen. You can use it as collateral for loans and be presented at embassies for visas. Gurus in the house can add more 4 Likes |
Re: Treasury Bills In Nigeria by TONY56: 6:00am On Sep 04, 2018 |
Gavrelino123: Yes. He should do that and I bet he will find out that his interest was re-invested along with it and he will get all at maturity. He would have known that it was re-invested if not that the proof of investment comes about 3 or 4 days after the transaction. |
Re: Treasury Bills In Nigeria by TONY56: 6:06am On Sep 04, 2018 |
Kemade2007: Good!!! And I am sure that what you found there is that it was re-invested. Stanbic should stop this idea of forcing investors to re-invest their profits and they only do this at the secondary market and won't allow it at the primary market even if you opt for it except you do your own calculation to include the anticipated interest when filling the forms. |
Re: Treasury Bills In Nigeria by TONY56: 6:21am On Sep 04, 2018 |
lolaluv1: Please why are you shielding the name of the bank? Tell us the name of the bank and let everybody know the antics of the different banks so that we can know what they do in other to be careful and be more vigilant. For example, if not that someone informed us here sometimes last year that Union Bank charges 25% penalty for premature termination of Treasury Bills, a lot of us wouldn't have known. And for this reason, I will NEVER go there. If your TB transaction was at the primary market, the officer was right to have asked you to write that it should be at the bank bidding rate and not at "the prevailing rate" if the amount involved is less than N50million but if it's at the secondary market, he should let you know the rate of the available offers so that you will know and be pleased with the one you chose before giving him the go ahead. 10 Likes |
Re: Treasury Bills In Nigeria by TONY56: 6:33am On Sep 04, 2018 |
Oma255: I feel that these rates are not good considering the surge in the last TB auction. I got 11.5% for 142 days on 6th July 2018 when primary rates were much lower so I think the rate now should not be less than 12% to be termed "Good" 1 Like |
Re: Treasury Bills In Nigeria by Mfunkynation(m): 6:39am On Sep 04, 2018 |
TONY56:bros, so no interest for re-investing the upfront interest? |
Re: Treasury Bills In Nigeria by Mfunkynation(m): 6:43am On Sep 04, 2018 |
TONY56:Did u get it from the same bank? I agree with you. lets compare that of fbn also if it is available |
Re: Treasury Bills In Nigeria by tolajay: 9:33am On Sep 04, 2018 |
Good Morning Tbillers, Does anyone have the rates for this morning from First Bank? |
Re: Treasury Bills In Nigeria by dipoolowoo: 9:48am On Sep 04, 2018 |
Treasury Bills Yields Decline by 0.30% to 12.17% https://www.businesspost.ng/2018/09/04/treasury-bills-yields-decline-by-0-30-to-12-17/ |
Re: Treasury Bills In Nigeria by Just2endowed2(m): 10:02am On Sep 04, 2018 |
Oma255: secondary market is not bad like that |
Re: Treasury Bills In Nigeria by generous: 10:32am On Sep 04, 2018 |
Good morning, Does anyone have today's rate for diamond bank.. Planning to go for 91 days |
Re: Treasury Bills In Nigeria by Mfunkynation(m): 11:15am On Sep 04, 2018 |
generous:dont think diamond would offer a good rate |
Re: Treasury Bills In Nigeria by CanadianEnginee(m): 11:25am On Sep 04, 2018 |
TONY56: 25 % of the interest? Is the penalty fixed or would they look at the months left before maturity? |
Re: Treasury Bills In Nigeria by Gavrelino123: 12:07pm On Sep 04, 2018 |
CanadianEnginee:The 25% penalty is fixed. Hence; Even if your maturity date is tomorrow and you want to liquidate today..☄☄☄☄ Very Ruthless...☄☄☄ |
Re: Treasury Bills In Nigeria by lolaluv1(f): 1:16pm On Sep 04, 2018 |
TONY56: The bank is GTB. Though I suspect the issue is with the account officer and not the service. Because I asked her to give me the available rates and she stated she doesnt know yet. But writing that they bid at the prevailing rate would allow them bid for me at they rate they (GTB) are bidding. I will find all the information regarding the TB and the charges and write here. |
Re: Treasury Bills In Nigeria by Vault007(m): 1:32pm On Sep 04, 2018 |
Gurus in the house, pls what is the minimum amount one can invest for Stanbic-IBTC tbills? |
Re: Treasury Bills In Nigeria by Ikmontana1: 1:36pm On Sep 04, 2018 |
I did sec market t-bills for 114 days at 10.9% at First Bank today .. asked d woman attending to me if there was a better rate at least 11% for at most 120 days, she told me dat 11% rate was for days above 160 days, n she was even acting impatient to ma questions .. I jus had to settle for 114 days at 10.9% .. |
Re: Treasury Bills In Nigeria by Mfunkynation(m): 1:42pm On Sep 04, 2018 |
Ikmontana1:hmmmm still on fbn, the guy that attended to me was impatient cos i was asking him various rate n tenor that would suits me. all he had to say was that any tenor n rate will still give me money |
Re: Treasury Bills In Nigeria by NL1960: 1:46pm On Sep 04, 2018 |
lolaluv1: I went to GTB this early morning to inquire about secondary market when the mail i sent to my account officer yesterday bounced and her number was not going through. I was told that she no longer works and was introduced to another person who looks like a 'fresher' to me. Na 'small' boy from my assessment. The guy checked and said that tenors were not yet available as at 8.00am and that it will be available by 10.00am. He promised to get back to me by call or email and till now, i have not yet heard from him and unfortunately i did not take his contact details. If by end of today, there is no word from him, na to transfer my money to Stanbic tomorrow. Worse case i go do primary market next week for Stanbic if i cannot get my desired tenor from them. I no ready to go back and forth with a 'learner' account officer. |
Re: Treasury Bills In Nigeria by Mfunkynation(m): 1:48pm On Sep 04, 2018 |
Ikmontana1:stanbic rate is better concerning 114 days @ 10.9% |
Re: Treasury Bills In Nigeria by oluwaseun8(m): 1:48pm On Sep 04, 2018 |
I went to Gtb and was told to come back next week that they bid every 2weeks. Is it true ? |
Re: Treasury Bills In Nigeria by Mfunkynation(m): 1:52pm On Sep 04, 2018 |
oluwaseun8: it depends on ur choice. do u want to buy from the secondary market or primary market. Primary market will occur next week, but secondary markets occurs on working days. Kindly choose |
Re: Treasury Bills In Nigeria by Gavrelino123: 1:55pm On Sep 04, 2018 |
lolaluv1:I have encountered similar occurrence when i was still a novice...!! Any branch you visit will still forward you to your account officer....☄☄ You have to show your account officer that you are well vast and knowledgeable about TB... Once they see that you are troublesome,they won't want to encounter you,they will just give you what you want....☄☄☄ I went to a different Branch to report my account officer..☄☄ They sent a query mail to her boss.....she later called and calmed me down...and was narrating how some of her colleagues were sacked because of a customer..☄☄ GTBANK secondary market rates is released with the lead-time between 10:am to 2pm daily...!!! |
Re: Treasury Bills In Nigeria by Gavrelino123: 1:57pm On Sep 04, 2018 |
Ikmontana1:You would have gotten a slightly higher rate yesterday as i advised......at least 11%+ for that tenor.. |
Re: Treasury Bills In Nigeria by Ikmontana1: 2:28pm On Sep 04, 2018 |
Gavrelino123:yh boss.. but calculating d difference of interest based on 114 days even if it is 11.5% will b a margin of #2k at most based on ma capital ...so not much difference boss .. I got to d bank late yesterday .. |
Re: Treasury Bills In Nigeria by Ikmontana1: 2:29pm On Sep 04, 2018 |
Mfunkynation:yh boss .. I might port to Stanbic bank next year .. |
Re: Treasury Bills In Nigeria by TONY56: 3:12pm On Sep 04, 2018 |
Mfunkynation: There is interest for the re-invested upfront interest but the way it works is that even the interest of the re-invested interest keeps re-invested until the amount remaining is less than N1,000 which will then be part of the amount left in your account. For example, if you invested N1million and the upfront interest is also re-invested, you may be debited a little less than N1million-like N999,565 because your account has been credited with maybe N435 being the amount that is less than N1,000 which could not be further invested. That's how it works. 2 Likes |
Re: Treasury Bills In Nigeria by TONY56: 3:15pm On Sep 04, 2018 |
Mfunkynation: Oh yes. From Stanbic |
Re: Treasury Bills In Nigeria by TONY56: 3:22pm On Sep 04, 2018 |
CanadianEnginee: It's fixed. Even if you're terminating a 364-day tenor after holding it for 310 days, you will be debited a penalty fee of 25% of your upfront interest apart from other fees. So people should always read everything written on all the documents they sign because it there |
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