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Nairaland Forum / Nairaland / General / Investment / Treasury Bills In Nigeria (4599942 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 ahiboilandgas: 7:58am On May 24, 2019 |
Just2endowed2:formerly it was 5m then emfele raise the capital requirement to 35m...note the 35m is still your money oooh..they pay interest of 7 percent after your linsence is out ....u just walk into first bank filling the bid form ,fund the accounts with naira by 4 pm debit alert then credit of 20k dollars @355 ,u call your aboki to the bank sell to him at 358 they credit your account u give them dollars to go hustle and sell on the streets ,u fill form for the next bidding currently it 75000 dollars per week per each bdc x 2 to 3 naira margin ....any scarcity of forex u can make 10 naira per dollar that 750k weekly .......u can buy a license but not nice the name of the company with be some else...there currently around 4000 bdc firm in Nigeria I join 2 years ago 13 Likes 4 Shares |
Re: Treasury Bills In Nigeria by ahiboilandgas: 8:05am On May 24, 2019 |
I also used my property and my tb then to secure loan from gtb to meet up capital requirement...it took 6 months ,I also did small intership in Lagos island with those aboki that own bdc I had to forget about degree holder and humble my self ....those chap are fantastically rich....their is the main aboki he buys over 3 m dollars weekly ....as a bdc owner u can also buy dollars from seller that don't want to patonise street seller ...u buy at 354 ...free tutorials 25 Likes |
Re: Treasury Bills In Nigeria by purleesh(f): 8:12am On May 24, 2019 |
ahiboilandgas: Sir Ahib, is this forex business risk free please? 3 Likes |
Re: Treasury Bills In Nigeria by Etfash(m): 8:21am On May 24, 2019 |
ahiboilandgas: Edited. Information is indeed power; I used to think BDC is an exclusive preserve of the abokis. @ the bolded. So, the 35m gets returned with 7% interest after the license is secured. Please just how long would the 35m stay with CBN; I mean how long does it takes to get the license after making the deposit? Six months! I guess all internship can be done during this period too. Also, are there other things involved: any inspections from CBN or their designate etc.? I believe the last 2 pages, the current and perhaps a few more to come will go down in history as some of the greatest revelations here on Nairaland. 9 Likes 1 Share |
Re: Treasury Bills In Nigeria by ahiboilandgas: 8:27am On May 24, 2019 |
Etfash:mine took 6 months other 4 months it as the exclusive right of cbn but highest 9 months .cbn want you to have an office with 2 staff when the inspector come for final approval after approval in principle...u can go round it...if u know u know but a small office space can serve then after ward close the thing and be bidding unless u want to take it as your main job 6 Likes 1 Share |
Re: Treasury Bills In Nigeria by ahiboilandgas: 8:29am On May 24, 2019 |
Etfash:intership is through my personsl connections..u can learn everthing within 7 days ...but it good to be in contact with others 6 Likes |
Re: Treasury Bills In Nigeria by ahiboilandgas: 8:35am On May 24, 2019 |
Etfash:no is not for northerners it for Nigerians ,northerner dominate the bussiness it historic cost of long trading history with arab world so currency exchange was there the bdc linsce stuff started around 2006 by soludo to fomalise their activities then black marketer tap in some have 10 lincense and became billionaires cos cbn give 1 million dollars weekly during soludu 4 Likes |
Re: Treasury Bills In Nigeria by amjustme2: 8:42am On May 24, 2019 |
I remember you asking for few like minded people to raise 35M for BDC business here on this thread few years ago. Its interesting to know you took the bold step all alone later. I like your mindset and risk taking appetite! A lot to learn. ahiboilandgas: 8 Likes |
Re: Treasury Bills In Nigeria by sharpsharp: 8:58am On May 24, 2019 |
ahiboilandgas: This is interesting. Educate us more. 2 Likes |
Re: Treasury Bills In Nigeria by ahiboilandgas: 9:08am On May 24, 2019 |
The central bank of nigeria has no option than to fund the bdc cos they deal with the retail end of the market ,sunusi tried to stop finding it then scarcity happen ,buhari atop giving bdc dollar jumps to 520 naira ...prof soludu that gave them lincense to make the bussiness formal is a true prof he wanted market stability and convergence of rate bdc and bank but mumu buhari has always hates bdc he attempt to halt it that they should source for dollars on our own then we started sourcing at 400 and selling at 450 ....then cbn was force to start intervening and allocating to bank ,bat and bdc 6 Likes 2 Shares |
Re: Treasury Bills In Nigeria by Nobody: 9:11am On May 24, 2019 |
ahiboilandgas: 5 Likes 1 Share |
Re: Treasury Bills In Nigeria by Nobody: 9:13am On May 24, 2019 |
[quote author=Sholapey post=78670267] Sir, |
Re: Treasury Bills In Nigeria by ahiboilandgas: 9:16am On May 24, 2019 |
U can't have more than 1 lincense cos they will take you finger print and bvn now ,and u can be very lucky to have some Chinese customer that will wire their entire textile sale to your account at 359 and u buy from several bdc after bid at 357 making 2 naira ......so if the Chinese need 1 m dollars he has to wire 359m naira to ahib bdc then I buy from several bdc at 357m making 2 million naira for that week ...this what happen in Lagos island those Chinese that import fish ,chicken ,textile can approach cbn for dollars repatriation cos the item they sell is contraband like tin tomatoes......this why mompha is very rich that guy that own mompha bdc in has many Chinese and Indian 11 Likes 2 Shares |
Re: Treasury Bills In Nigeria by ahiboilandgas: 9:22am On May 24, 2019 |
Sholapey:for bdc is straight forward go to cbn website and download application form it their ,then incorporate the company then submitted at the central bank head quater abuja their is a department incharge after they approve the name of the bdc then u raise draft in favour of the cbn the your approval in principle is out then they return the 35 m into company accounts then u go to any bank the new firm have account and collect the bidding form 3 times a week then you fund the naira account and get debited and collect the dollars call the black marketer and sell to him collect your margin and the cycle contunues 9 Likes |
Re: Treasury Bills In Nigeria by Nobody: 9:30am On May 24, 2019 |
ahiboilandgas:How do I go about the whole thing? Can you recommend a place I can go for intern before i venture into it pls.? |
Re: Treasury Bills In Nigeria by Nobody: 9:30am On May 24, 2019 |
@ahiboilandgas Thanks for dis..But how do you look for customers when u cannot stand on the street. R U personaly able to sale the whole allocation from cbn weekly? Wat happens if u wanna close the license and get ur 35m and how easy is it to cancle and get back ur money.? Is the 7% interest per annum? or after ur cancle the license If u have the option buyin euro bond and get 7% or dis bdc which will u go ? What d stress part of the bdc biz u going through? 2 Likes |
Re: Treasury Bills In Nigeria by NL1960: 9:34am On May 24, 2019 |
Gforce2019: It seems you have not been following this thread. Somebody is targeting N1B in TBs at a particular age. Go and calculate 10% on N1B on 1 year TB and calculate the monthly amount on that. 6 Likes |
Re: Treasury Bills In Nigeria by ahiboilandgas: 9:42am On May 24, 2019 |
Sholapey:mentor on which on bdc it straight forward since you have above the capital requirement while for oil and gas what your level of shock absorber but insurance pay but around 80 percent 3 Likes
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Re: Treasury Bills In Nigeria by ahiboilandgas: 9:51am On May 24, 2019 |
tritritri:the 35 m is return with interest once the final lincense is granted .u are not under any compulsion to bid or operate but after 1 year they can revoke the linsence, for selling dollars have u ever carry dollars and no buyer in Nigeria only right price....the aboki street seller doesn't have a lisnce,u call him to the bank to credit u and hand over dollars to him profit s can decline to 50 kobo like during election u make 35 k per bid 3 Likes |
Re: Treasury Bills In Nigeria by ahiboilandgas: 9:56am On May 24, 2019 |
purleesh:risk of arm robber ,If u choose to sell on the streets ,risk of recording a loss if u choose to keep the dollars for weeks and naira gain value like they allocated at 354 then thinking price might raise to 370 u choose to kept then suddenly crude jump to 100 dollars cbn reduces cost of sale to bdc at 345 4 Likes |
Re: Treasury Bills In Nigeria by Nobody: 9:58am On May 24, 2019 |
ahiboilandgas:Thank you for your quick response. 2 Likes |
Re: Treasury Bills In Nigeria by Nobody: 10:04am On May 24, 2019 |
ahiboilandgas: Reason for my question. 'Ve Been thinking of going into eurobond which is also 7% per annum... Did u go into this bdc as an act of investment against devaluation in d future because dat my own reason any other advice as am not even base in nig. |
Re: Treasury Bills In Nigeria by Nobody: 10:13am On May 24, 2019 |
ahiboilandgas: Morning sir.... Please I will like to have your contact |
Re: Treasury Bills In Nigeria by NL1960: 10:21am On May 24, 2019 |
ahiboilandgas: Haba, why you wan chop all that money alone?. Splash some to them. Chop, clean mouth and move on now. ![]() 2 Likes |
Re: Treasury Bills In Nigeria by eddyakinrinde(m): 10:35am On May 24, 2019 |
Barrytone: @Barrytone my man, its bn long I saw ur post last, hope u re cool. Hope u didn't relaxed on ur target sha. I tot u were focussed on 10m monthly b4. All the best my guy. God help us. 3 Likes |
Re: Treasury Bills In Nigeria by ahiboilandgas: 10:43am On May 24, 2019 |
tritritri:we all know that the cbn is keeping the naira artificially at 360 with 200m dollars weekly intervention ,around 2012 my t.b was 16m naira 100 thousand dollars by 2016 it was 23m same investment 63000 dollars my loss was 37000 dollar it really pained me ....if I just kept my 100 k dollars it will have been 40 m no wonder when osinbajo asset declare form all his money was in pounds only few naira 2 Likes |
Re: Treasury Bills In Nigeria by ahiboilandgas: 10:47am On May 24, 2019 |
There 4 have to learn other bussiness that can mint naira faster that tb 12 percent like 40 percent then my porfolio will be (tb,bdc,dorm,trucks rent salary) hmm if total upstream give me job or political appointment 5 Likes |
Re: Treasury Bills In Nigeria by Nobody: 10:52am On May 24, 2019 |
ahiboilandgas: which do u tink is best and why , Invest in d said bdc or go for eur bond ... Thanks for knowledge as i've never thought of this . |
Re: Treasury Bills In Nigeria by Nobody: 11:46am On May 24, 2019 |
ahiboilandgas:I just called the CBN Headquarter and the information I got wasn't clear to understanding. |
Re: Treasury Bills In Nigeria by Nobody: 11:46am On May 24, 2019 |
.Contents 1.0 INTRODUCTION............................................................................................................2 2.0 APPLICATION FOR LICENCE......................................................................................2 3.0 REQUIREMENTS FOR THE GRANT OF FINAL LICENCE.........................................4 4.0 FINANCIAL REQUIREMENTS .....................................................................................5 5.0 BOARD/MANAGEMENT REQUIREMENTS................................................................6 6.0 DISQUALIFICATION AND EXCLUSION OF CERTAIN INDIVIDUALS FROM THE MANAGEMENT OF BUREAUX DE CHANGE IN NIGERIA.......................................6 7.0 OPERATIONS OF BUREAUX DE CHANGE ................................................................7 8.0 NON-PERMISSIBLE ACTIVITIES.................................................................................8 9.0 SUPERVISION AND MONITORING OF BUREAUX DE CHANGE ............................9 10.0 ESTABLISHMENT, CLOSURE AND RELOCATION...................................................9 11.0 INTERNAL CONTROL/COMPLIANCE UNITS ............................................................9 12.0 ANTI MONEY LAUNDERING ACTIVITIES ..............................................................10 13.0 APPROVAL OF AUDITED ACCOUNTS.....................................................................10 14.0 PRESERVATION OF RECORDS .................................................................................10 15.0 REVOCATION OF LICENCE.......................................................................................10 16.0 CHANGE IN OWNERSHIP STRUCTURE...................................................................11 17.0 RENEWAL OF LICENCE.............................................................................................12 18.0 COMPLIANCE WITH LAWS, RULES AND REGULATIONS....................................12 19.0 OFFENCES AND PENALTIES.....................................................................................12 20.0 AMENDMENT..............................................................................................................12 21.0 COMMENCEMENT......................................................................................................12 Table 1: PENALTIES FOR INFRACTIONS BY BUREAUX DE CHANGE (BDCs)...............13 How do I go about all these requirements @ahiboilandgas 2 Likes |
Re: Treasury Bills In Nigeria by Nobody: 11:53am On May 24, 2019 |
@ahiboilandgas: |
Re: Treasury Bills In Nigeria by Agbaletu: 12:23pm On May 24, 2019 |
Sholapey:Following... |
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