zamirikpo:


I see (hope) rates finds support around this 12.5 - 12.85 region with a bid to bounce back to the highs of around 15%.

Fingers crossed.

it oh it only fair 15 cos of high inflation in Nigeria

I couldn't meet up with yesterday's bid. Now I want to buy short term in secondary market, Pls how do I go about it? Thanks

zamirikpo:


I see (hope) rates finds support around this 12.5 - 12.85 region with a bid to bounce back to the highs of around 15%.

Fingers crossed.

Yes oo. Especially now, as feelamong noted, the budget needs to be funded. Let's see how the next few weeks pans out

My i-invest "treasury bill" for 4th April matured today and I've received the full fund with interest in my bank account (less 52.50 - interbank transfer charges I suppose). So stressed free. I'm not sure I'll do any further investment with them though because they offer term deposit and not treasury bills per say since there's no upfront.

Dracoe:

What’s the interest rate of money market fund like per annum?

It varies but closely follows the TB rate. The main advantage of TB over it is that TB has true yield because of the upfront interest. MMF is a good way to start for somebody with little funds. When the funds grows to a reasonable amount, you can withdraw from it and invest in TB.

See this thread and read more about it.

https://www.nairaland.com/1912965/mutual-funds

9ja4eva:
Wow! Lots of fascinating comments here. I want to start trading T-bills, but I do not know where to start, bills to buy, or how to start. Some guidance would help. Any help/suggestions would be appreciated. I take God beg una.

Start by reading the first 10 pages of this thread and then continue reading starting from 10 subsequent pages. Also stay close and read current comments. You will get to know everything about TB in not time if you are serious and dedicated to it. Na the path wen i follow be that.

Nnamz:

Seriously dude if you're expecting even a penny here, you're a dreamer. Sell your phone and help yourself.

U just spoil market for the online beggar

FBN secondary market mature for today 4th, money in account since 0830am.

Barrytone:
FBN secondary market mature for today 4th, money in account since 0830am.

l thought you said you're going on strike for now...lol

One idiot at First Bank told me primary issue is today... I reach my bank and they told me bid submission ended 2 days ago... Chai!

Guy what does this mean for the money market.

THE Federal Council (FEC) has approved the establishment of a Promissory Note Programme worth N3.4trillion for the settlement of inherited local debts and contractual obligations of the Federal Government.

Minister of Finance, Zainab Ahmed, disclosed this while briefing State House correspondents on the outcome of the council meeting presided over by President Muhammadu Buhari on Wednesday.

She named some of the creditors to include Pension Liabilities N400billion; unpaid Salaries and 3rd party deductions N24.95billion; staff claims N270billion; part of contractors claims N45.36billion; fuel supply accrued interest and Foreign Exchange differentials N514.29billion and part of State Governments Claims N487.85billion

Others are Ministry of Health outsourced liabilities N9.04billion; major contractors N596.51billion; Export Expansion Grant (EEG) Scheme N350.12billion; Judgement debt N112.96billion; DISCOS N26.71billion and GENCOS N495.67billion.

UBA

63- 10.4%
147-11.50%
154-12.05%
182-12.10%
224-12.15%
259-12.20%
301-12.45%
350-12.55%

Sholapey:
l thought you said you're going on strike for now...lol

Suspension was for investment as I can't stop maturity of running investment. Am not reinvesting till the 91 days elapse.

Hi House, any debit alert from GTB?

Pls don't call that guy a beggar even if you don't want to help,if you have been through hard times you will understand how it feels to be broke!

ogawisdom:


U just spoil market for the online beggar

BlackAfrican:
One idiot at First Bank told me primary issue is today... I reach my bank and they told me bid submission ended 2 days ago... Chai!

Yeah, for most banks you must submit your bid latest by Tuesday of the auction week. Some will even insist of not later than 12-2pm on that Tuesday

Tweetums:
yes ooooo...
I'm not trading forex again but crypto on point now....
Do you know much about tb?

Treasury Bills are government guaranteed debt instruments issued by CBN on their behalf to finance expenditure. The CBN also uses treasury bills to control money supply in the economy

How are Treasury Bills Sold?

Treasury Bills are sold through a bi-weekly auction conducted by the CBN. Buyers are requested to quote bids following which the average minimum bid is selected.

Where can I buy Treasury Bills?

Treasury Bills can be bought through any official dealer. The easiest will be through your bank

What is the Minimum Amount I can Buy

You can buy for as low as N1,000 and in multiples of N1,000 thereafter. However, Banks typically accept minimum purchases of N100,000 or more

When is it usually sold?

Treasury Bills is sold every other Wednesday (bi-weekly) as announced by the CBN. The CBN announces issuances in their websites and in the pages of the Newspaper. You can also ask your bank account officer to notify you ahead of an issuance.

How Can I Buy Treasury Bills

To buy Treasury Bills you will have to approach your bank requesting for a form. You fill the form with your personal information also indicating the amount you want to buy as well has your bid rate.

What is the bid rate

The bid rate otherwise called your STOP RATE is the likely interest rate that you have indicated ti receive for the principal that you investing in the TB’s. For example you can indicate an interest rate of 10% as your expected rate. Your bid rate will most likely be different from that of other intending buyers of TB’s.

How is the Bid Rate selected

The CBN selects the bids that fall below the accepted marginal rates. The Marginal Rate is the minimum average rate for bids submitted within a bid window. For example if the marginal bid rate for a bid opened Wednesday 4 September is 11% then bids falling below this rate will be accepted and those above rejected.

What if I don’t have a Bid rate

If you do not have a Stop Rate or you are not sure of a rate you can select the option of having the bank choose a rate for you. However, this does not guarantee that the bank rate will be chosen or will be the best.

Can I still buy if my Bid is rejected

You can purchase TB’s from the secondary market Over The Counter (OTC) through a broker. This is also where buyers and sellers of TB’s trade the notes in exchange for cash.

What are the durations (tenor) for the TB’s

Treasury Bills are usually for 91days, 182days and 364 days. As such, you can have the CBN hold your cash for 91days or 182 days or 364 days depending on your choice. However, the CBN can decide they want to sell Treasury Bills for all the tenor available or either of them.

Can I sell before Maturity

Yes you can sell Treasury Bills before maturity. As mentioned above, this can be done through the OTC market. The price at which you sell depends on the forces of demand and supply. For example a N100,000 face value TB maybe selling for less or more depending on the yield expectation of the buyers. If your face value is trading at a higher price, it means you can sell your treasury bills at a profit as such your N100,000 can sell for N101,000 or more. If your face value is trading at a lower price, it means you can sell your treasury bills at a loss as such your N100,000 can sell for N99,000 or less.

When is the interest paid?

The interest element of a treasury bill is paid to you upfront and credited to your bank account. For example, if you purchase a N100,000 TB with an interest rate of 10% the CBN debits your account with N90,000 as such your N10,000 interest is paid upfront. Upon maturity, you are paid the face value N100,000. The upfront payment of your interest makes your true yield actually higher.

What is a True Yield?

True Yield is your actual Return on Investment. (ROI). Using the example above, the initial yield for the N100,000 is 10%. However, because they pay you interest upfront your true yield is actually the N10,000 in interest divided by the N90,000 actually deducted from your account. That is N10,000/N90,000 0r 11.11%. This is thus higher than the 10% coupon. The True Yield is completely earned when you hold to maturity.

Can I roll over my investment

The CBN does not rollover your investment automatically. However, you can give your bank a mandate to rollover the principal on your treasury bill upon maturity. You can also get the benefit of compounding interest by asking your bank to reinvest the interest portion of your TB once it is paid.

Are Treasury Bills Safe

Treasury Bills are one of the safest forms of investment and are backed by the full faith and credit of the Federal Government of Nigeria

Apart from the Interest Rates what are the benefits

A good source of steady stream of income
Treasury Bills are a good investment outlet for your free and disposable cash
Treasury Bills are good investments for people who wish to save
Treasury Bills are also tax free
Treasury Bills are very liquid and can be converted to cash quickly
They can be used as a collateral

Are Treasury Bills Taxable

Interest derivable from Treasury Bills are not taxable.

Still try to read first 10 to 20 pages of this thread and be following every updates.

Phyde:

Treasury Bills are government guaranteed debt instruments issued by CBN on their behalf to finance expenditure. The CBN also uses treasury bills to control money supply in the economy

How are Treasury Bills Sold?

Treasury Bills are sold through a bi-weekly auction conducted by the CBN. Buyers are requested to quote bids following which the average minimum bid is selected.

Where can I buy Treasury Bills?

Treasury Bills can be bought through any official dealer. The easiest will be through your bank

What is the Minimum Amount I can Buy

You can buy for as low as N1,000 and in multiples of N1,000 thereafter. However, Banks typically accept minimum purchases of N100,000 or more

When is it usually sold?

Treasury Bills is sold every other Wednesday (bi-weekly) as announced by the CBN. The CBN announces issuances in their websites and in the pages of the Newspaper. You can also ask your bank account officer to notify you ahead of an issuance.

How Can I Buy Treasury Bills

To buy Treasury Bills you will have to approach your bank requesting for a form. You fill the form with your personal information also indicating the amount you want to buy as well has your bid rate.

What is the bid rate

The bid rate otherwise called your STOP RATE is the likely interest rate that you have indicated ti receive for the principal that you investing in the TB’s. For example you can indicate an interest rate of 10% as your expected rate. Your bid rate will most likely be different from that of other intending buyers of TB’s.

How is the Bid Rate selected

The CBN selects the bids that fall below the accepted marginal rates. The Marginal Rate is the minimum average rate for bids submitted within a bid window. For example if the marginal bid rate for a bid opened Wednesday 4 September is 11% then bids falling below this rate will be accepted and those above rejected.

What if I don’t have a Bid rate

If you do not have a Stop Rate or you are not sure of a rate you can select the option of having the bank choose a rate for you. However, this does not guarantee that the bank rate will be chosen or will be the best.

Can I still buy if my Bid is rejected

You can purchase TB’s from the secondary market Over The Counter (OTC) through a broker. This is also where buyers and sellers of TB’s trade the notes in exchange for cash.

What are the durations (tenor) for the TB’s

Treasury Bills are usually for 91days, 182days and 364 days. As such, you can have the CBN hold your cash for 91days or 182 days or 364 days depending on your choice. However, the CBN can decide they want to sell Treasury Bills for all the tenor available or either of them.

Can I sell before Maturity

Yes you can sell Treasury Bills before maturity. As mentioned above, this can be done through the OTC market. The price at which you sell depends on the forces of demand and supply. For example a N100,000 face value TB maybe selling for less or more depending on the yield expectation of the buyers. If your face value is trading at a higher price, it means you can sell your treasury bills at a profit as such your N100,000 can sell for N101,000 or more. If your face value is trading at a lower price, it means you can sell your treasury bills at a loss as such your N100,000 can sell for N99,000 or less.

When is the interest paid?

The interest element of a treasury bill is paid to you upfront and credited to your bank account. For example, if you purchase a N100,000 TB with an interest rate of 10% the CBN debits your account with N90,000 as such your N10,000 interest is paid upfront. Upon maturity, you are paid the face value N100,000. The upfront payment of your interest makes your true yield actually higher.

What is a True Yield?

True Yield is your actual Return on Investment. (ROI). Using the example above, the initial yield for the N100,000 is 10%. However, because they pay you interest upfront your true yield is actually the N10,000 in interest divided by the N90,000 actually deducted from your account. That is N10,000/N90,000 0r 11.11%. This is thus higher than the 10% coupon. The True Yield is completely earned when you hold to maturity.

Can I roll over my investment

The CBN does not rollover your investment automatically. However, you can give your bank a mandate to rollover the principal on your treasury bill upon maturity. You can also get the benefit of compounding interest by asking your bank to reinvest the interest portion of your TB once it is paid.

Are Treasury Bills Safe

Treasury Bills are one of the safest forms of investment and are backed by the full faith and credit of the Federal Government of Nigeria

Apart from the Interest Rates what are the benefits

A good source of steady stream of income
Treasury Bills are a good investment outlet for your free and disposable cash
Treasury Bills are good investments for people who wish to save
Treasury Bills are also tax free
Treasury Bills are very liquid and can be converted to cash quickly
They can be used as a collateral

Are Treasury Bills Taxable

Interest derivable from Treasury Bills are not taxable.

Still try to read first 10 to 20 pages of this thread and be following every updates.

woow, that's a lot for the break down.... I really appreciate.... I'm going for tb

Anybody with yesterday auction's alert from First Bank today ?....please

NL1960:


Start by reading the first 10 pages of this thread and then continue reading starting from 10 subsequent pages. Also stay close and read current comments. You will get to know everything about TB in not time if you are serious and dedicated to it. Na the path wen i follow be that.

Thank you

Phyde:

Treasury Bills are government guaranteed debt instruments issued by CBN on their behalf to finance expenditure. The CBN also uses treasury bills to control money supply in the economy

How are Treasury Bills Sold?

Treasury Bills are sold through a bi-weekly auction conducted by the CBN. Buyers are requested to quote bids following which the average minimum bid is selected.

Where can I buy Treasury Bills?

Treasury Bills can be bought through any official dealer. The easiest will be through your bank

What is the Minimum Amount I can Buy

You can buy for as low as N1,000 and in multiples of N1,000 thereafter. However, Banks typically accept minimum purchases of N100,000 or more

When is it usually sold?

Treasury Bills is sold every other Wednesday (bi-weekly) as announced by the CBN. The CBN announces issuances in their websites and in the pages of the Newspaper. You can also ask your bank account officer to notify you ahead of an issuance.

How Can I Buy Treasury Bills

To buy Treasury Bills you will have to approach your bank requesting for a form. You fill the form with your personal information also indicating the amount you want to buy as well has your bid rate.

What is the bid rate

The bid rate otherwise called your STOP RATE is the likely interest rate that you have indicated ti receive for the principal that you investing in the TB’s. For example you can indicate an interest rate of 10% as your expected rate. Your bid rate will most likely be different from that of other intending buyers of TB’s.

How is the Bid Rate selected

The CBN selects the bids that fall below the accepted marginal rates. The Marginal Rate is the minimum average rate for bids submitted within a bid window. For example if the marginal bid rate for a bid opened Wednesday 4 September is 11% then bids falling below this rate will be accepted and those above rejected.

What if I don’t have a Bid rate

If you do not have a Stop Rate or you are not sure of a rate you can select the option of having the bank choose a rate for you. However, this does not guarantee that the bank rate will be chosen or will be the best.

Can I still buy if my Bid is rejected

You can purchase TB’s from the secondary market Over The Counter (OTC) through a broker. This is also where buyers and sellers of TB’s trade the notes in exchange for cash.

What are the durations (tenor) for the TB’s

Treasury Bills are usually for 91days, 182days and 364 days. As such, you can have the CBN hold your cash for 91days or 182 days or 364 days depending on your choice. However, the CBN can decide they want to sell Treasury Bills for all the tenor available or either of them.

Can I sell before Maturity

Yes you can sell Treasury Bills before maturity. As mentioned above, this can be done through the OTC market. The price at which you sell depends on the forces of demand and supply. For example a N100,000 face value TB maybe selling for less or more depending on the yield expectation of the buyers. If your face value is trading at a higher price, it means you can sell your treasury bills at a profit as such your N100,000 can sell for N101,000 or more. If your face value is trading at a lower price, it means you can sell your treasury bills at a loss as such your N100,000 can sell for N99,000 or less.

When is the interest paid?

The interest element of a treasury bill is paid to you upfront and credited to your bank account. For example, if you purchase a N100,000 TB with an interest rate of 10% the CBN debits your account with N90,000 as such your N10,000 interest is paid upfront. Upon maturity, you are paid the face value N100,000. The upfront payment of your interest makes your true yield actually higher.

What is a True Yield?

True Yield is your actual Return on Investment. (ROI). Using the example above, the initial yield for the N100,000 is 10%. However, because they pay you interest upfront your true yield is actually the N10,000 in interest divided by the N90,000 actually deducted from your account. That is N10,000/N90,000 0r 11.11%. This is thus higher than the 10% coupon. The True Yield is completely earned when you hold to maturity.

Can I roll over my investment

The CBN does not rollover your investment automatically. However, you can give your bank a mandate to rollover the principal on your treasury bill upon maturity. You can also get the benefit of compounding interest by asking your bank to reinvest the interest portion of your TB once it is paid.

Are Treasury Bills Safe

Treasury Bills are one of the safest forms of investment and are backed by the full faith and credit of the Federal Government of Nigeria

Apart from the Interest Rates what are the benefits

A good source of steady stream of income
Treasury Bills are a good investment outlet for your free and disposable cash
Treasury Bills are good investments for people who wish to save
Treasury Bills are also tax free
Treasury Bills are very liquid and can be converted to cash quickly
They can be used as a collateral

Are Treasury Bills Taxable

Interest derivable from Treasury Bills are not taxable.

Still try to read first 10 to 20 pages of this thread and be following every updates.

You too much. Many thanks for sharing this information effortlessly.

Tweetums:
woow, that's a lot for the break down.... I really appreciate.... I'm going for tb

U're welcome....Is crypto still booming ?

9ja4eva:


You too much. Many thanks for sharing this information effortlessly.

Se o wa ok sha?
You have to quote that long post just to say "Many thanks"? Smh

Gusus,

is 12.85% ok for 252days?

aremso:
Gusus,

is 12.85% ok for 252days?

Which bank Sir

Viqtour:

Which bank Sir

Ecobank

aremso:


Ecobank

Thanks. FirstBank offered 12% for the same 252 days today.

Viqtour:

Thanks. FirstBank offered 12% for the same 252 days today.

Haa so the one they are offering me is even ok!

NL1960:


It varies but closely follows the TB rate. The main advantage of TB over it is that TB has true yield because of the upfront interest. MMF is a good way to start for somebody with little funds. When the funds grows to a reasonable amount, you can withdraw from it and invest in TB.

See this thread and read more about it.

https://www.nairaland.com/1912965/mutual-funds

Thanks...I really appreciate

aremso:



Haa so the one they are offering me is even ok!

Yes it is.

Bravedude112:
Pls don't call that guy a beggar even if you don't want to help,if you have been through hard times you will understand how it feels to be broke!

I understand how u feel abt this, but are you sure this guy is really in a dire need of the money. Many online beggers in naija now with different tactics , begging for house rents, schl fee etc. I felt bad n used to have given a guy some thousands to start smthin with, only to find him on same spot begging again , he shyly looked away

aremso:


Ecobank

Depends on amounts involved as it’s negotiable