what about in mutual fund? who know if stanbic IBTC mutual fund will be available for investment.

condomuser:
What could have made them stop accpeting investments this early for primary and secondary markets. The holiday hasn't even started.

that information is wrong!

Secondary market is still open.

i applied yesterday @ 13% first bank.
am at the bank now to correct my form and invest.

ALL MONEY MARKET FUNDS remain open.

happy investing.


P.S: I just got 13.4% for 316 days, yay!

RealityShot:
that information is wrong!
Secondary market is still open.
i applied yesterday @ 13% first bank. am at the bank now to correct my form and invest.
ALL MONEY MARKET FUNDS remain open.
happy investing.

P.S: I just got 13.4% for 316 days, yay!

wow... thanks for correcting the earlier wrong info.

Nnamz:


Initially I was going to ignore you because this question shows you haven't read previous pages of this thread. I'm just gonna answer it so that other lazy Nigerian youths like you don't repeat the question.

When you invest for 55 or 90 days at 10%, YOU ARE NOT GETTING THE FULL 10% for that investment. Divide 10% by 1 year (0.10÷364 = 0.00027). Times the result by the number of days, 55 in this case. That would give you 0.015. That means you're getting just 1.5% of that 100,000 investment.

A guy here said he read the first 300 pages of this thread. I did similar thing that is why I can say I know so much about tbills, not from reading a book or not because I work at a bank, but because I spent time here reading previous pages of this thread. PLEASE YOU GUYS SHOULD STOP ASKING QUESTIONS THAT YOU WOULD FIND THE ANSWERS TO IF YOU TOOK 20 MINUTES TO READ PREVIOUS PAGES OF THIS THREAD. ALSO ENOUGH WITH THE FIGHT. IF YOU ARE NOT HERE FOR INVESTMENTS, LEAVE THIS THREAD BEFORE YOU MAKE REASONABLE INVESTORS HERE LEAVE BECAUSE OF YOU.

I read a lot of pages and skipped some but i got most of the answers without asking much.

RealityShot:
that information is wrong!

Secondary market is still open.

i applied yesterday @ 13% first bank.
am at the bank now to correct my form and invest.

ALL MONEY MARKET FUNDS remain open.

happy investing.


P.S: I just got 13.4% for 316 days, yay!

Have u been debited and credited with the upfront interest because I want to go and shout inside stanbic this morng.

They told me both primary and secondary where off till next year.

zamirikpo:


Have u been debited and credited with the upfront interest because I want to go and shout inside stanbic this morng.

They told me both primary and secondary where off till next year.

Maybe is just stanbic. My account officer just told me I’ll be debited tomorrow

feelamong:


Exactly why its important to hedge your Treasury Bills bet with Eurobonds investments!

as a policy, i always have about 40% of my Investments in Dollars (Eurobonds) The returns may be low but in times of devaluation, you will be surprised at how much you have gained in Naira.

awesomeJ:

While I certainly agree with you sir on the need to hedge ogainst currency risk, We also need to fully explore the alternatives:

1. Doing NTBs at 14% average yield will turn your $100k to about $141k in 5 years should the naira crash from 360 to 510 in that period.

2. stashing your $100k in your dorm account would leave you with about $99k or less in 5 years.

3. doing US bonds, bills or notes at about 4% would turn the $100k to about $121k.

4. doing eurobonds at about 7% average would leave you with 140k.

However like I often like to think, timing is really key with investments.

Some people bought dollars at 250 and sold at 510, while some others bought at 520 only to sell at 380.

Investment should be a smart man's business.

Happy new month to us all!

vacanci:


If I remembered vividly, after the roadshow, our last Eurobond was over subscribed.

Can you help us breakdown and analys these 3 scenarios.

1. Mr A has 10M. He investment in a Treasury bills or bond at prevailing rate. Let's say between 14 and 15 percent for the next 5 years. After 5 years, convert his total amount principal and interest compounded to Dollar at say N510 per dollar like some me one suggested on this thread.

2. Mr B has 10M. He bought dollars with all of them at prevailing exchange rate today let's say between 365 and 370 naira to a dollar. He invested the dollar at a given rate of 2% in fixed deposit so he can cash out anytime there is panic. Remember we have seen dollars dropped from 520 to 360.

3. Mr C has 10M. He bought dollars with all of them as above and investment in eurobond for 5years at prevailing interest rate say between 6 and 7 percent.

Recall that a 5 year eurobond can't give u 7%. Prevailing rate for 5year maturity is around 6%. So you don't need to use the wider margin to calculate since it's not 20 year bond.

At the end of 5 years let all the guys convert their money to common currency, dollar or naira. Let's see the picture of all these argument.

It's not for us to just be loyal to the dollar simply because of the name as if you buy garri with it or pay house rent with it.

ahiboilandgas:
investor A 39000 dollars B 31000 C 37000 dollars ...the naira treasury bill investor gains more

And from historic data we have the following:
Average TB rate over the past 10 years is 11% (2008 @ 6%, 2010 @4%, 2012 @ 16%, etc.), Bond average @ 5% (Nigeria 5yr eurobond can fetch up to 7% while Brazilian eurobond 10% because they are considered high risk), Dollar rate 2008 was N120 (2010 @ 155, ......2018 @ 360).

a) NTB: On N1000 investment made in 2008 at average of 11%, it will be worth N2800 today
b) BOND: On N1000 investment made in 2008 i.e. 1000/120 = $8.33 invested in bonds at 5% it will be worth $13.57 today i.e. N4900
c) DOLLAR "from under the pillow" will be worth 8.33 x 360 = 3000 today

So it appears there is little difference between NTB and dollar cash investment. The $ bond appears to be worth investing in but this assumes a future naira devaluation rate similar to the existing historical data. The reality may be better or worse. Only time can tell. In conclusion there could be a short term loss if one chooses the pure dollar path (path c) due to bank charges and black market rates. And one can only get good eurobond rates by investing in developing countries, which means only the devaluation risk is mitigated, the market/country risk remains essentially the same.

NOTE:
1. Eurobonds can be purchaed through the likes of FBN Capital. To get a rate of up to 7%, one has to invest in the minimum of 5-year bond. There is a one-time management fee of 1.5% - which means any investment that is less than 2 years is not worth it. There will also be costs for converting naira to dollar since the transaction will not be eligible for conversion at the official market, so parallel market rate will be used.
2. NTB investment may be worthwhile in the short term if the naira doesn't lose more than 7% of its value per year.

sempe123:
please is anyone having the same experience as me.Since last friday i gave UBA instruction to debit my account for TB,up till now that has not been done,they keep telling me that the platform is down.The thing just weak me

Guess TB is closed for the year, I advice you use CBN calender..

please what's the rate of UBA TB as of when you applied?

Thanks to @realityshot I went to stanbic today and made sure I bought into the secondary market. The same idi_t that said no secondary market till next year gave me 14.25% for 330days.

Xmas is now set.....

Some of these bankers are either lazy or incompetent

zamirikpo:
Thanks to @realityshot I went to stanbic today and made sure I bought into the secondary market. The same idi_t that said no secondary market till next year gave me 14.25% for 330days.

Xmas is now set.....

Some of these bankers are either lazy or incompetent

14.25% is a big one. I hope i will get that at firstbank...

PraiseDLord:

Never, mine has always been same day value.
Why should a discounted instrument that is very liquid take such a time?
It's same day please. Worst case, the bank buys it back to increase its regulatory CRR.

Thanks boss...was at the Bank on Monday to cause a scene. Later got my account credited that same day.

zamirikpo:
Thanks to @realityshot I went to stanbic today and made sure I bought into the secondary market. The same idi_t that said no secondary market till next year gave me 14.25% for 330days.

Xmas is now set.....

Some of these bankers are either lazy or incompetent

you welcome, glad i could help..

btw... "lazy, incompetent" and i think criminal minded!

either they want to force us to use fixed deposit or

they (like at first bank) are very keen on selling to us at much lower rates than CBN rates!

yesterday rates: CBN-15% FBN-13.4%
crazy!

am going to open IBTC account in Jan. Even though their branches are very far from my area. Thanks

RealityShot:
you welcome, glad i could help..

btw... "lazy, incompetent" and i think criminal minded!

either they want to force us to use fixed deposit or

they (like at first bank) are very keen on selling to us at much lower rates than CBN rates!

yesterday rates: CBN-15% FBN-13.4%
crazy!

am going to open IBTC account in Jan. Even though their branches are very far from my area. Thanks

I'm going to open one today today. The long awaited. I'm fed up with first bank giving lower rate

donshady:


I'm going to open one today today. The long awaited. I'm fed up with first bank giving lower rate

please do ask them if there is any way to apply for tbills without visiting their office physically.

thank you.

RealityShot:
please do ask them if there is any way to apply for tbills without visiting their office physically.

thank you.

.
Okay. I'll

zamirikpo:
Thanks to @realityshot I went to stanbic today and made sure I bought into the secondary market. The same idi_t that said no secondary market till next year gave me 14.25% for 330days.

Xmas is now set.....

Some of these bankers are either lazy or incompetent

boss
pls is it possible to compound upfront interest in d secondary market ?
I.e I want to invest everytin, don't want to collect anytin, to enjoy d True yield.

Ikmontana1:
boss
pls is it possible to compound upfront interest in d secondary market ?
I.e I want to invest everytin, don't want to collect anytin, to enjoy d True yield.

I don't think So, cos the forms they have do not have any column for reinvesting interest.

Though u could discuss with the customer care rep. Cos it's actually very easy.

RealityShot:
that information is wrong!

Secondary market is still open.

i applied yesterday @ 13% first bank.
am at the bank now to correct my form and invest.

ALL MONEY MARKET FUNDS remain open.

happy investing.


P.S: I just got 13.4% for 316 days, yay!

Have you been debited plus have you received your upfront payment.?? One of my bills is due today and i haven't been credited yet.

donshady:


Have you been debited plus have you received your upfront payment.?? One of my bills is due today and i haven't been credited yet.

..am still waiting for alert..i was told to come for cert today but i will go tomorrow.

Ikmontana1:
boss
pls is it possible to compound upfront interest in d secondary market ?
I.e I want to invest everytin, don't want to collect anytin, to enjoy d True yield.

Yes
It is possible to do that. At least I do that at first bank

RealityShot:
..am still waiting for alert..i was told to come for cert today but i will go tomorrow.

One of my bills matured today and I haven't received alert

donshady:


One of my bills matured today and I haven't received alert

just check your balance or wait till tomorrow.

you know cbn has been mopping cash to pay you all your 550 billion that matures today... Lol

faymouz:


Guess TB is closed for the year, I advice you use CBN calender..

please what's the rate of UBA TB as of when you applied?

No,secondary market is always on.What they had was a branch issue which has been resolved.I got 14.75 for 358 days yesterday.

RealityShot:
just check your balance or wait till tomorrow.

you know cbn has been mopping cash to pay you all your 550 billion that matures today... Lol

First bank says tbills for secondary market is not loading

donshady:


First bank says tbills for secondary market is not loading

wicked bank

zinaunreal:


wicked bank

Tired of them

sempe123:

No,secondary market is always on.What they had was a branch issue which has been resolved.I got 14.75 for 358 days yesterday.

thanks man..I need to clearify something, can i have your number please

zamirikpo:
Thanks to @realityshot I went to stanbic today and made sure I bought into the secondary market. The same idi_t that said no secondary market till next year gave me 14.25% for 330days.

Xmas is now set.....

Some of these bankers are either lazy or incompetent

What is the bank charges and custody fee?
14.25% is quite high

Indigbo:


Less than three weeks into the investment

It is possible to lose some of your capital o, depending on the interest rate the bank buy back the TB investment. Like I said before, make effort to contact your bank and ask for the likely interest rate to buy back the TB investment from you. Make sure you also ask if there is any penalty o. I learnt Union bank charges around 20% of the interest as a penalty for early liquidation. Good luck with your endeavour.

Let's compare rates and see which Bank has the highest T.bills rate.
Quote your bank tenor and corresponding rate below

Me too
Even now, I'm yet to be credited

donshady:

Have you been debited plus have you received your upfront payment.?? One of my bills is due today and i haven't been credited yet.