RealityShot:
well, this will be great news for those who have access to Bank loans naa...& hopefully they will drop prices of what they import!!!


btw...see this..


Micro Pension Plan
https://www.pencom.gov.ng/micro-pension/


see how scanty the info on pencom's site is? What does that tell you?


well, i will tell you something;
it is better you contribute part of your income (no matter how small) to money market fund and/or Treasury bills..


than to give pencom your life's savings.


why?
well, when it is time to collect, they will show you you no longer OWN the money; it is they who will make all the decisions and give you WHATEVER they deem fit, WHEN they like!!!


BEWARNED.

Who else read that as "between" and not "by the way" lol

needful:


Am also in Canada, I want to open in stanbic too. But notarization is holding it. Abeg which bank and court did it free for you. My lawyer here is charging me $70 for 3docs. But am still waiting to see if I could get it done for free.

Please don't waste your 70 bucks. That's thousands of Naira. Read my response to the same question in previous page (last post I think)

RealityShot:
exactly!


they used most of the funds for something and asked the owners to take less or nothing.


then they hope to invest in Tbills and pay the owners part of the proceeds. All the while keeping the capital with them forever!


and that fractional reserve part eh! (are we sure there is even any fraction there?)
REMEMBER THIS :
https://punchng.com/fg-borrows-n5-5tn-from-pension-savings-delays-minimum-payment/

i wish i can open a pension or an insurance firm!!

Lol!

I do hope people shine their eyes. Their system is not transparent enough, it doesn't make sense.

GonFreecss1:


Lol!

I do hope people shine their eyes. Their system is not transparent enough, it doesn't make sense.

but government made it mandatory for workers in established private sector

T-Bills Yield Settles at 13% on Absence of OMO Auction
https://businesspost.ng/2019/03/29/t-bills-yield-settles-at-13-on-absence-of-omo-auction/

Just2endowed2:


but government made it mandatory for workers in established private sector

We are talking of those not mandated.

Toyyn:
Dear Gurus......please is it profitable to sell a TB purchased at 14.5% interest for 12% interest rate?

Most likely

Nnamz:

It depends on what you define as notary. A notarized document is just anything that has your name and home address on it, with an official stamp of a recognized institution. In my own case, I had CIBC (same CIBC that doesn't offer notary to customers according to you lol) print a paper that had my name, address, and account balance. Then the paper was stamped and signed. Shi shi did not go into this. The banks in Nigeria accepted this as a notarized document. Case closed!

Hmmmm! Interesting! I actually asked a lawyer friend in Nigeria who notarized the document for me and I sent it to Stanbic. I actually sent in a secondary market TB instruction alongside the indemnity form. However, the bank did not honor my TB instruction as they said that the form must be notarized where I am located. I paid another $50 yesterday for indemnity form to get my account ready for transactions.

I usually invest for 364 days tenor but after the failed bids by GTB coupled with the drop in stop rates, I just want to monitor what happens in the next few months by investing in short tenors (I just sent instructions for 34 days at 9.25%). Not that great, but I just want to hedge against uncertainty.

These are the bills on offer today on the GTB Secondary market:

20-Jun-19 (83 days) at 10.20%

26- Sep-19 (181 days) at 12.00%

27-Feb- 20 (335 days) at 12.30%

davit:
These are the bills on offer today on the GTB Secondary market:

20-Jun-19 (83 days) at 10.20%

26- Sep-19 (181 days) at 12.00%

27-Feb- 20 (335 days) at 12.30%

Nice rates. I just wasted my money fixing my account with Stanbic. I would have stayed with my GTB oo. Lesson: Please compare all your banks rates before trading with one so you don't feel bad afterwards.

@davit, please is there a way other than asking your account officer how someone can see the secondary market rates of different banks?

davit:
These are the bills on offer today on the GTB Secondary market:

20-Jun-19 (83 days) at 10.20%

26- Sep-19 (181 days) at 12.00%

27-Feb- 20 (335 days) at 12.30%

They gave me same rate too. I quickly lock in for 83days

First Bank secondary market rate for today

Just2endowed2:


but government made it mandatory for workers in established private sector

what do you mean by "established"?

Thanks.

I haven't seen 38 days tenor. I was relly interested in it.

After many attempts, i locked money in gtb at rate of 10.75, my question is when it will mature, monthly or when it reaches tenor date

Bluecollarguy:


GTBank is my only bank at the moment, but they've been acting up as of late. As a fellow Non-Resident, I am thinking of opening another account with either Stanbic or First Bank, especially for Tbill transactions. I ask you and/or other non-resident account holders, which of the banks should I go for, and what was the level of difficulty of opening the account with them from afar? I appreciate your feedback. #OneLove

Zenith

Rijo02:


@Oludy thanks for the daily updates. I actually just got a Stanbic account solely for TB as I noticed Stanbic has nice rates. But the stress for opening a Non-resident account no be here ooo. I hope it works out best at the end.

Zenith has cool rates also with seamless diaspora account opening

Zenith is pretty good, probably the best when it comes to non-resident accounts, their technology remains the best, as long as banking sector is concerned in Nigeria.

I browsed Zenith Bank website, couldn't find any link/icon for opening a Non-Resident/Diaspora account. Anyone care to paste a link here or some information on how to open the aforesaid account with Zenith Bank? Thanks in advance...

Bluecollarguy:
I browsed Zenith Bank website, couldn't find any link/icon for opening a Non-Resident/Diaspora account. Anyone care to paste a link here or some information on how to open the aforesaid account with Zenith Bank? Thanks in advance...

Go to Zenithbank website and enter their customer service 24/7 online chat, ask your question on how best to open a diaspora account, they will guide you accordingly. Very easy and secured.

zamirikpo:
IT WILL NOT BE WELL WITH LOW RATES


12 HOURS OF INACTIVITY ON THIS THREAD IS UNUSUAL.

With inflation around 11% dem for leave rates around 14%. make our profit be 3%.

Na wa ooh.

[b]

Is Fisher's effect really correct?

HOW DOES THE INFLATION AFFECT US PRACTICALLY?

Acceptance fee in most unis have been static. 25k in UNN since 10 years.

Law school fees have been 295k since 5 years.

Most house rents have not been reviewed upward since 5 years. They have been static.


Recharge card has been 100 naira since many years.


Bottle water has been 100 naira since many years.


In fact, phone and car prices have reduced in the past 1 year.


A painter of garri is now 400 as against 1k two years ago.


Where do we have a practical effect of the inflation?



See this instance:

NOW If I have 300k to pay for Law School fees for my sister next year, I can do tbills at 10% and get 330k (minus charges).

Going by inflation rates being at 11%, it means I lost 1% since I did tbills at 10%.

.

BUT in reality, by next year I will have 330k, pay same 300k law school fees and use 30k to buy Nkwobi!

Did Fisher's effect apply here? NO!. I lost nothing but gained 10%, despite the much touted fisher's inflation effect.


At any rate, I don't trust Nigerian Bureau of Statistics on their reports.

Guys are our TBills safe with GTBank? With the Innoson judgement and all the panic that is building.

I don't have my certificates since I have never physically made requests at the branches.

jidobaba:
Guys are our TBills safe with GTBank? With the Innoson judgement and all the panic that is building.

I don't have my certificates since I have never physically made requests at the branches.

Your tbills is as safe as your money in the bank.

OgogoroFreak:
Your tbills is as safe as your money in the bank.

Great thanks.
But gtbank dropped the ball on this one. What were they thinking? Corporate foolishness.

Rijo02:


Nice rates. I just wasted my money fixing my account with Stanbic. I would have stayed with my GTB oo. Lesson: Please compare all your banks rates before trading with one so you don't feel bad afterwards.

@davit, please is there a way other than asking your account officer how someone can see the secondary market rates of different banks?

This link has some other commercial bank tbills rates and what date they were available: http://comparedbest.com/ng/best-nigerian-treasury-bill-rates.html

partnerbizz4:

[b]

Is Fisher's effect really correct?

HOW DOES THE INFLATION AFFECT US PRACTICALLY?

Acceptance fee in most unis have been static. 25k in UNN since 10 years.

Law school fees have been 295k since 5 years.

Most house rents have not been reviewed upward since 5 years. They have been static.


Recharge card has been 100 naira since many years.


Bottle water has been 100 naira since many years.


In fact, phone and car prices have reduced in the past 1 year.


A painter of garri is now 400 as against 1k two years ago.


Where do we have a practical effect of the inflation?



See this instance:

NOW If I have 300k to pay for Law School fees for my sister next year, I can do tbills at 10% and get 330k (minus charges).

Going by inflation rates being at 11%, it means I lost 1% since I did tbills at 10%.

.

BUT in reality, by next year I will have 330k, pay same 300k law school fees and use 30k to buy Nkwobi!

Did Fisher's effect apply here? NO!. I lost nothing but gained 10%, despite the much touted fisher's inflation effect.


At any rate, I don't trust Nigerian Bureau of Statistics on their reports.

[/b]

You have a point because I too believe that those NBS guys just do guess work. It's just that you cannot really measure inflation with public service institutions like law school. It is the government who is bearing the weight. Like foreign exchange
and the CBN pumping in money every now and then. You can't tell especiall with Federal service institutions. Look at State and private Universities for the full effects. Again, with the other commodities you mentioned, I will guess that economies of scale have helped them sustain production levels. If mtn had 1 million subscribers 5 years ago and 2 million this year, it will be selfish to increase recharge card prices.

And mind you, the government ( or NBA) is borrowing heavily to sustain that law school fees at 295k. When the debt hook them too much they will increase it.

All this Nigerians in diaspora, please leave TBN for us nah... How am I not sure you guys aren't the one crashing the rates with all your heavy hard currencies...

Please oo, what is happening?

What did you hear about GT bank?

jidobaba:
Guys are our TBills safe with GTBank? With the Innoson judgement and all the panic that is building.

I don't have my certificates since I have never physically made requests at the branches.

biznus:
All this Nigerians in diaspora, please leave TBN for us nah... How am I not sure you guys aren't the one crashing the rates with all your heavy hard currencies...

Lol

zenith rate is not so good at all. Last time, I got 12.0℅ for 183days.

Elektra008:



Zenith

The link is not working.

CompareDBest:
This link has some other commercial bank tbills rates and what date they were available: http://comparedbest.com/ng/best-nigerian-treasury-bill-rates.html.