cybertek:


Baba wan japa

lol, I should have said asking for a friend

RealityShot:
yes..6 Months = N~30000

IBTC/FBN/GTB best to least

Thanks. Will get on it tomorrow.

chigo4u:

Hello, how did you work this canada PR stuff? Can you help me with info? If an agent worked it out, I'd like to get their contact too if you dont mind. Thanks

express entry

Omg,this is not fair by dmo,this simply means that all primary market tbills which will mature on 16th may will have to sit idle in savings account for 1 or 2weeks! Does anyone know when the next primary market auction is gonna be after the one of 15th may?

saipn:
I just confirmed from GTBank I was told that the next primary auction treasury bill is may 15 not 16

Sure,tnx

freeman67:


Yes, but remember to go and instruct them to do that as soon as you can before the auction/settlement day.

freeman67:


For primary market the accepted bid rates are made public after the auction...

RealityShot:
nope.

If you must... Then do secondary market

Okay, thanks

Analysts Foresee Decline in Rates as CBN Auctions N33.8bn T-Bills
https://businesspost.ng/2019/05/13/analysts-foresee-decline-in-rates-as-cbn-auctions-n33-8bn-t-bills/

https://www.nairaland.com/5184969/emefiele-smiles-buhari-congratulates-him
AwesomeJ...
is this good or great?
for me it means all is bad for Nigerians and Tbills rate not looking up at all

Emefiele and dollar pegging...hmm...

RealityShot:
yes..6 Months = N~30000

IBTC/FBN/GTB best to least

A newbie to tb here.

Does this summary mean that 1m for 1yr = 120k.
Pls clarify. Thanks

pattybf:


A newbie to tb here.

Does this summary mean that 1m for 1yr = 120k.
Pls clarify. Thanks

Yes @ 12 point something interest rate

Grupo:


Yes @ 12 point something interest rate

Thanks

Guys I'm thinking of visiting the bank tomorrow to bid for Wednesday's auction. Which do you think I stand a chance of getting a better rate; primary or secondary market.

Darkseid:
Guys I'm thinking of visiting the bank tomorrow to bid for Wednesday's auction. Which do you think I stand a chance of getting a better rate; primary or secondary market.

It is late, except you want to go for secondary market. You should have done that today.

Agbaletu:

It is late, except you want to go for secondary market. You should have done that today.

I went to the bank today and the person I met said it has to be tomorrow. It's my first time though.

Darkseid:
I went to the bank today and the person I met said it has to be tomorrow. It's my first time though.

I used to submit my form at Stanbic Bank on Tuesdays. There was even a day I submitted my form around 3pm on the Tuesday prior to the Wednesday, the day of auction.

So, you can go early on tomorrow.

Grupo:


I used to submit my form at Stanbic Bank on Tuesdays. There was even a day I submitted my form around 3pm on the Tuesday prior to the Wednesday, the day of auction.

So, you can go early on tomorrow.

Same here... StanbicIBTC

Agbaletu:

It is late, except you want to go for secondary market. You should have done that today.

I don't know of other banks but for first bank - primary auctions , it's late. For stanbic, you can submit your form till anytime on Tuesday. First bank must be Mondays

pattybf:

A newbie to tb here.
Does this summary mean that 1m for 1yr = 120k. Pls clarify. Thanks

yeah.. At current rates

RealityShot:
https://www.nairaland.com/5184969/emefiele-smiles-buhari-congratulates-him

AwesomeJ...

is this good or great?

for me it means all is bad for Nigerians and Tbills rate not looking up at all


Emefiele and dollar pegging...hmm...

Which one? His smiles or his reappointment?

Do you mean is reappointment or currency management style is bad? (pegging?)


Whoever is calling for the floating of the currency is either joking or has ulterior motives.

Imagine if the CBN announces tomorrow morning that it would be ending its supplies and interventions at the FX market, and would be leaving the currency to fully float,

Do you think this month will end before dollar hits #450? maybe #1,000 by December. Then someone who's been planning to buy a $10,000 car to celebrate Christmas will realize that his money is only enough for a tricycle. Do you really think such a terrible situation is what helps the economy?

They argue that we should float to attract FPIs, just check the over subscriptions we've been having since January, are the FPIs not coming already?

It's only our equities market they seem to be abandoning, but by my estimates, less than 0.1% of the population trade actively enough to benefit from any strong market performance the the FPIs may induce.

When more than 80% of your goods and raw materials are locally produced, that's when you talk about floating, not that some ignorant politician will be talking about floating a currency when he probably missed or failed classes on basic Economics.

Meanwhile, reserves are breaking above $45bn this week, based on pattern observed on CBN's website.

Happy night rest to us all.

awesomeJ:


Which one? His smiles or his reappointment?

Do you mean is reappointment or currency management style is bad? (pegging?)


Whoever is calling for the floating of the currency is either joking or has ulterior motives.

Imagine if the CBN announces tomorrow morning that it would be ending its supplies and interventions at the FX market, and would be leaving the currency to fully float,

Do you think this month will end before dollar hits #450? maybe #1,000 by December. Then someone who's been planning to buy a $10,000 car to celebrate Christmas will realize that his money is only enough for a tricycle. Do you really think such a terrible situation is what helps the economy?

They argue that we should float to attract FPIs, just check the over subscriptions we've been having since January, are the FPIs not coming already?

It's only our equities market they seem to be abandoning, but by my estimates, less than 0.1% of the population trade actively enough to benefit from any strong market performance the the FPIs may induce.

When more than 80% of your goods and raw materials are locally produced, that's when you talk about floating, not that some ignorant politician will be talking about floating a currency when he probably missed or failed classes on basic Economics.

Meanwhile, reserves are breaking above $45bn this week, based on pattern observed on CBN's website.

Happy night rest to us all.

thank you Sir

Happy night rest to you all.

One-Month Treasury Bills Yields Rise to 11.77%
https://businesspost.ng/2019/05/13/one-month-treasury-bills-yields-rise-to-11-77/

Grupo:


I used to submit my form at Stanbic Bank on Tuesdays. There was even a day I submitted my form around 3pm on the Tuesday prior to the Wednesday, the day of auction.

So, you can go early on tomorrow.

Yeah, thank you

Can one submit tb form today since bidding is tomorrow?

Akin3891:



I don't know of other banks but for first bank - primary auctions , it's late. For stanbic, you can submit your form till anytime on Tuesday. First bank must be Mondays

Zenith bank too must be Monday.

I was at Standard Chartered bank this morning to make enquiry. I was told the minimum I can invest through primary market is 50m, while for seconday market is 500k at 10%. How true is this info of 50m minimum for primary market?

awesomeJ:


Which one? His smiles or his reappointment?

Do you mean is reappointment or currency management style is bad? (pegging?)


Whoever is calling for the floating of the currency is either joking or has ulterior motives.

Imagine if the CBN announces tomorrow morning that it would be ending its supplies and interventions at the FX market, and would be leaving the currency to fully float,

Do you think this month will end before dollar hits #450? maybe #1,000 by December. Then someone who's been planning to buy a $10,000 car to celebrate Christmas will realize that his money is only enough for a tricycle. Do you really think such a terrible situation is what helps the economy?

They argue that we should float to attract FPIs, just check the over subscriptions we've been having since January, are the FPIs not coming already?

It's only our equities market they seem to be abandoning, but by my estimates, less than 0.1% of the population trade actively enough to benefit from any strong market performance the the FPIs may induce.

When more than 80% of your goods and raw materials are locally produced, that's when you talk about floating, not that some ignorant politician will be talking about floating a currency when he probably missed or failed classes on basic Economics.

Meanwhile, reserves are breaking above $45bn this week, based on pattern observed on CBN's website.

Happy night rest to us all.

I totally agree with u.....so it's safe to say that things may remain relatively stable for now barring any sharp fluctuations in oil price.


Hmmmm....Naija

Controlv:
I was at Standard Chartered bank this morning to make enquiry. I was told the minimum I can invest through primary market is 50m, while for seconday market is 500k at 10%. How true is this info of 50m minimum for primary market?

Yes its true but most banks pool funds from different customers to meet the 50m

RealityShot:
yes..6 Months = N~30000

IBTC/FBN/GTB best to least

I contacted IBTC and FBN.
IBTC says for TBills I can invest from N100k rate is at 10%. That seems quite low. Money Market rate is currently at 12.6%

FBN said from N5million for TBills. I didn't bother asking for the rate as my money no reach. However their Money Market Fund is at 13.1% currently so am thinking of going for this with the whole N500k.

I used the Formular (Principal x Rate x 1)/365 to calculate the daily yield and that placed the Mutual Market Fund yield of FBN higher than the Treasury Bills or is the calculation faulty or different for Treasury Bills? Please help. I want to make an informed decision. Thank you.

House please feel free to weigh in on this

Controlv:
I was at Standard Chartered bank this morning to make enquiry. I was told the minimum I can invest through primary market is 50m, while for seconday market is 500k at 10%. How true is this info of 50m minimum for primary market?

Similar info I got from Stanbic IBTC this morning. Difference is IBTC Secondary Market starts at N100k but still at 10%. FBN Secondary Market from N5m, I didn't ask for the rate.

Marula:

I contacted IBTC and FBN.
IBTC says for TBills I can invest from N100k rate is at 10%. That seems quite low. Money Market rate is currently at 12.6%

FBN said from N5million for TBills. I didn't bother asking for the rate as my money no reach. However their Money Market Fund is at 13.1% currently so am thinking of going for this with the whole N500k.

I used the Formular (Principal x Rate x 1)/365 to calculate the daily yield and that placed the Mutual Market Fund yield of FBN higher than the Treasury Bills or is the calculation faulty or different for Treasury Bills? Please help. I want to make an informed decision. Thank you.

House please feel free to weigh in on this

For FBN, the person you met is either not well inform or want to hinder you from the TB.. The minimum you can invest in TB there is 100k too.

Be informed that there are more charges to mutual fund than TB. Also, the rate for TB once gotten is stable throughout the tenure of the investment but that of mutual fund fluctuate daily or weekly depending on the investment house.

It is true

Controlv:
I was at Standard Chartered bank this morning to make enquiry. I was told the minimum I can invest through primary market is 50m, while for seconday market is 500k at 10%. How true is this info of 50m minimum for primary market?