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Nairaland Forum / Nairaland / General / Investment / Treasury Bills In Nigeria (4625001 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 Akin3891: 12:01am On Jan 19, 2019 |
Creamz: Your interest is on point, you guys should learn how to calculate this % things b4 u give someone heart attack here or u go blow ur acc officer, lol. On a lighter note. Was thinking that they probably huke u down on a fixed deposit unknown to u, but after calculating ur investments, you are good to go. Take care 1 Like |
Re: Treasury Bills In Nigeria by zinaunreal(m): 12:28am On Jan 19, 2019 |
madakiagwom: You must be working there 2 Likes |
Re: Treasury Bills In Nigeria by Chisco27: 6:35am On Jan 19, 2019 |
Creamz: I don't think you have been ripped off. I think what you transacted with your bank was fixed deposit and not NTB. My thoughts though. 3 Likes |
Re: Treasury Bills In Nigeria by Chisco27: 6:52am On Jan 19, 2019 |
Chisco27: I withdraw my last quote on this. The calculations made by the gurus in the house were correct. 1 Like |
Re: Treasury Bills In Nigeria by Chisco27: 6:56am On Jan 19, 2019 |
A friend of mine who is introducing me to TBs told me he made an investment of 7M for 280days via access bank and the bank charges were about 21,000. Isn't that rather too much? My question is who knows how bank charges are calculated? |
Re: Treasury Bills In Nigeria by Creamz(m): 7:06am On Jan 19, 2019 |
Akin3891: When I called the bank, I was told that the interest for 364 days tenor is 13.1% so because I invested for 182 days tenor, it had to be half of the interest for the 364 days making it 6.55% |
Re: Treasury Bills In Nigeria by dejiotus: 8:04am On Jan 19, 2019 |
[quote author=Creamz post=74902503] When I called the bank, I was told that the interest for 364 days tenor is 13.1% so because I invested for 182 days tenor, it had to be half of the interest for the 364 days making it 6.55%[/quote Interest rates are always quoted per annum (calendar year), 365 days usually and 366 days in a leap year. This has been discussed many times on the last couple of pages. People should always divide the interest due ( principal x rate), divide by 365 ( or 366 in a leap year) and multiply by the tenor ( number of days) to get the interest amount). So creamz, the interest rate was not 6.55% but 13.1%. Although you can say you got 6.55% of your capital as interest but this is different from the interest rate (as interest rates are quoted per annum (per year) 1 Like |
Re: Treasury Bills In Nigeria by Agbaletu: 8:41am On Jan 19, 2019 |
Chisco27:Maybe he used current account for the TBill. It is not advisable to use current account. |
Re: Treasury Bills In Nigeria by temmy59: 9:16am On Jan 19, 2019 |
Hello house; how can I liquidate my treasury bills before the due date; and what are the charges for that; |
Re: Treasury Bills In Nigeria by STOjo: 9:32am On Jan 19, 2019 |
Barrytone: Thanks so much for sharing your experience. The truth is that all these apps are not as reliable as presented. When it comes to funds. It is good to have someone you can shout at and not those who will just refuse to pick your call. The first test of every investment is the security of your principal. 2 Likes |
Re: Treasury Bills In Nigeria by TotoNaRubber: 9:36am On Jan 19, 2019 |
The punishment is that you will kneel down in front of the class. In financial world the words charges/subtraction are rather used. The charges will depend on how long the investment has been running and selling rate to the next buyer. temmy59: 1 Like |
Re: Treasury Bills In Nigeria by temmy59: 10:03am On Jan 19, 2019 |
TotoNaRubber: Thank you, I appreciate; also I can just liquidate part; perhaps quarter; the investment already run 4 month out of 6; and I need the funds; |
Re: Treasury Bills In Nigeria by Nobody: 10:04am On Jan 19, 2019 |
zinaunreal:Iol.... I am regular customer. I was telling someone who ask about the app. It's actually an advisable option for people outside Nigeria. If you are in Nigeria, you can easily go to your bank and transact TB. https://i-investng.com 2 Likes |
Re: Treasury Bills In Nigeria by Eaze66: 10:13am On Jan 19, 2019 |
Pls what should be the interest of N1.7m for 91days@ 11% I don't understand first bank o! Is there now charges on tbills?? I used a savings acct.My calculation was N46,620
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Re: Treasury Bills In Nigeria by Nobody: 10:24am On Jan 19, 2019 |
Eaze66: 46750 plus bank charges |
Re: Treasury Bills In Nigeria by Iamzik: 10:53am On Jan 19, 2019 |
Good morning house. I was debited by Stanbic yesterday for primary market 364 days tenor but no notification of bid rate as at other times. Can anyone confirm Stanbic bid result for 364days? |
Re: Treasury Bills In Nigeria by Verapax2001: 10:57am On Jan 19, 2019 |
please join us as we continue our prayer. https://www.myjesusandi.com/2019/01/19/may-god-bless-our-plans-9-days-prayer-5th-day/ |
Re: Treasury Bills In Nigeria by C505: 10:59am On Jan 19, 2019 |
Barrytone: Does bank charges differ from bank to bank? Also, is the bank charges in the primary market different from the secondary? The charges I'm acquainted to is 0.125% |
Re: Treasury Bills In Nigeria by Eaze66: 11:16am On Jan 19, 2019 |
Barrytone: Thanks for d reply. So first bank short paid me! Like N N1,750 after bank charges of N130?? |
Re: Treasury Bills In Nigeria by Nobody: 11:20am On Jan 19, 2019 |
Eaze66: that might be the charges. |
Re: Treasury Bills In Nigeria by Nobody: 11:21am On Jan 19, 2019 |
C505: its different from bank o bank. same for both markets |
Re: Treasury Bills In Nigeria by Eaze66: 11:32am On Jan 19, 2019 |
Barrytone:Charges of N 1,880 for primary market?? I will surely visit them next week |
Re: Treasury Bills In Nigeria by unite4real: 11:39am On Jan 19, 2019 |
Eaze66: It is obvious you didn't get 11%. The fact that rates closed at 11% as published doesn't mean everyone got it. Ask your bank the rate they closed their bid for the 91 day tenor Don't use the published rates to do your calculations. Ask your bank of their bid rate 2 Likes |
Re: Treasury Bills In Nigeria by unite4real: 11:42am On Jan 19, 2019 |
Iamzik: From information I gathered, it's around 14.3%. others should confirm. It wasn't close to the closed rate of 15%. |
Re: Treasury Bills In Nigeria by Eaze66: 12:19pm On Jan 19, 2019 |
Yeah I think u are right! Thanks unite4real: 1 Like |
Re: Treasury Bills In Nigeria by TotoNaRubber: 12:20pm On Jan 19, 2019 |
Liquidation will be for all the investment and it is safe to say you will receive most part of your initial invested funds. There will be a reduction of two months interest and slightly a little more charges like a few lthousands to reflect the difference in the rate when you initially bought and the rate currently sold to the new investor. temmy59: 1 Like |
Re: Treasury Bills In Nigeria by wura2020: 12:30pm On Jan 19, 2019 |
Agbaletu: Can you explain why one should not use current account to purchase treasury bills? |
Re: Treasury Bills In Nigeria by Agbaletu: 12:37pm On Jan 19, 2019 |
wura2020:Bank charges on current account is almost twice that of savings account. One of the reasons I stopped using current account for TBills investment. 1 Like |
Re: Treasury Bills In Nigeria by temmy59: 1:26pm On Jan 19, 2019 |
TotoNaRubber:I really appreciate your effort sir; please is it possible for me to convert my funds to dollars and buy treasury bills with dollars |
Re: Treasury Bills In Nigeria by shulamitewoman(f): 1:49pm On Jan 19, 2019 |
something people don they collect interest since January 2..y the hell is she even lying? is it her money? all these account officers I tire for dem..u know wat? dont ask her like u don't know much abt it..ask like u know everything and tell her u ask their head office..she go humble immediately |
Re: Treasury Bills In Nigeria by dejiotus: 2:50pm On Jan 19, 2019 |
Iamzik: Dear Iamzik. I am also very much interested on Stanbic bid rate at the last primary market, especially 364 day tenor. Based on my calculation the discounted rate was 14.34%. I don't know if Stanbic is joining other banks particularly Zenith to shave off small amount of the rate from customers. I could have settled for 14.5% at the secondarily market but waited for 2 weeks as I was confident Stanbic will bid between 14.75 and 15% based on events at earlier OMO auctions. I was very disappointed when I got 14.34 % at the primary market. Still waiting for the notification document sha. Maybe Stanbic also made errors with the interest calculation. 1 Like |
Re: Treasury Bills In Nigeria by KingRex1(m): 2:58pm On Jan 19, 2019 |
Creamz:Yeah, every interest rate is on a per annum basis. So if you don't do a 364 day investment, you shouldn't calculate on the interest rate proposed to you. That's the main mistake many people make in short mid term investments like this. |
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