[quote author=olujaidi post=82134688]

A fee a brokerage or other financial institution charges for safekeeping services. Safekeeping or custody is a service in which the brokerage or financial institution holds securities on behalf of the client, which reduces the risk of the client losing his/her assets.

There was a CBN circular a few years ago mandating banks to transfer client investments to custodians eg FBN Custodians, Zenith Custodians etc. It was displayed in banking halls all over the country. This means that your investments are no longer domiciled with the bank but with the Custodian. It's an additional layer of risk management

Your bank is simply an agent facilitating investment, divestment and settlement

Thanks for the explanation, but I think all these big big English makes it more easier for financial institutions to deceive ignorant costumers.

feelamong:


I dont think its a good idea to rush into a long term TBill deal now.

Naija is broke and the FG needs to borrow over N1TR in this quarter..

I see rates going to as much as 14.5% in the coming weeks.

Just look for good short term secondary market deals and lie there for the small time.....

I normally do long term o as i use it to pay my rent which falls due early October.

tijusegele:
So pls guys I juz need response against tomorrow

I walk into FBN to make enquiries and the reply I got was these

I can’t invest in the primary market until the nxt 2 week

Why I will have to come back tomorrow to see the rate of the secondary market

Pls any advise because it seem the bank are not happy when customers come for treasury bills

They said I can do a fixed deposit which is 5.5%, but I turn it down

Though primary market auction is every 2 weeks. According to the 4th quarter NTB calendar posted here recently, there would be another auction next week on 19/09/19. So it means you can still invest in primary market next week if you wish to.

Except there didn't have any available in the secondary market today which is very unlikely or you went after 3:00pm, they ought to have shown/told you the tenure and rate available.

What you should do is to either go to another branch of FirstBank tomorrow if there is another branch where you live or when you go back there tomorrow be very bold to ask of the person in charge of TB.

Tomorrow there is no primary market so you will request to know the tenures and rates available in the secondary market straight. Then choose from whatever is presented to you. If they decline just tell them you will call and notify firstcantact about what transpired. I believe that should suffice..

feelamong:


I dont think its a good idea to rush into a long term TBill deal now.

Naija is broke and the FG needs to borrow over N1TR in this quarter..

I see rates going to as much as 14.5% in the coming weeks.

Just look for good short term secondary market deals and lie there for the small time.....

Yes that's what I am going to do for the next one when month ends by God's grace.

Donbrig:


Na waoo, in a country where we are still fighting to have ordinary 30k as minimum wage, having 100m makes you a rich man, and you could have that money working for you all the days of your life inside Nigeria.

I don't have any properties yet. A single house in lekki is 70 million cheapest and drive a Toyota avensis.

That's why I don't feel rich.

Very correct sir I went there around some minute to 4pm and she said I should com around 10-12

More so all I want to know is should I just settle for secondary market tomorrow dose it make sense or should I wait till 19th sept

freeman67:


Though primary market auction is every 2 weeks. According to the 4th quarter NTB calendar posted here recently, there would be another auction next week on 19/09/19. So it means you can still invest in primary market next week if you wish to.

Except there didn't have any available in the secondary market today which is very unlikely or you went after 3:00pm, they ought to have shown/told you the tenure and rate available.

What you should do is to either go to another branch of FirstBank tomorrow if there is another branch where you live or when you go back there tomorrow be very bold to ask of the person in charge of TB.

Tomorrow there is no primary market so you will request to know the tenures and rates available in the secondary market straight. Then choose from whatever is presented to you. If they decline just tell them you will call and notify firstcantact about what transpired. I believe that should suffice..

Hello Feelamong and other gurus, is Eurobond same as this?

feelamong:


I actually bought from AXA Mansard..

am also aware that UBA, FBN Quest and Stanbic all offer Eurobond products too

feelamong:


I dont think its a good idea to rush into a long term TBill deal now.

Naija is broke and the FG needs to borrow over N1TR in this quarter..

I see rates going to as much as 14.5% in the coming weeks.

Just look for good short term secondary market deals and lie there for the small time.....

Above is an advice to me by Oga feelamong earlier. You should consider it too.

tijusegele:
Very correct sir I went there around some minute to 4pm and she said I should com around 10-12

More so all I want to know is should I just settle for secondary market tomorrow dose it make sense or should I wait till 19th sept

Depending on tenure you intend to invest in. If its for short tenure no need to wait you can do secondary in order not to waste more days. However if it's for long tenure, there is a possibility rate may go higher on the 19/09/19 so you can consider doing it then.

I salute u sir. Thanks so much



Depending on tenure you intend to invest in. If its for short tenure no need to wait you can do secondary in order not to waste more days. However if it's for long tenure, there is a possibility rate may go higher on the 19/09/19 so you can consider doing it then. [/quote]

Nigsrdumb:


I don't have any properties yet. A single house in lekki is 70 million cheapest and drive a Toyota avensis.

That's why I don't feel rich.

What did you do to amass that? Also you don’t need a house in lekki, far overpriced

chigo4u:

What did you do to amass that? Also you don’t need a house in lekki, far overpriced

Yahoo

OgogoroFreak:
Yahoo

why ?

Treasury Biĺls

CBN Raises 364-Day T-Bills Stop Rate to 13.29% at PMA to Trap FPIs
https://businesspost.ng/2019/09/12/cbn-hikes-364-day-t-bills-stop-rate-to-13-29-at-pma-to-trap-fpis/

seyisanya:
Hello Feelamong and other gurus, is Eurobond same as this?

This is Eurobond Fund.......Not purchase of actual Eurobond.

This is more like investing in Money market funds (which invest in Tbills and other short term money market instruments like CPs) and not buying Tbills directly.

OgogoroFreak:
Yahoo

If I hear

Everyone is positive the rates might increase as the year winds down. So, if you do short term investment, you get the funds back and if the rates increase, you reinvest. If otherwise, you also decide.

Also, based on your fund usage, you can consider the best time for your investment - short or long.

Donbrig:


Pls, I intend to invest about 14m for next week's tbills, is it better to go for short or long term? Because some are saying rate might increase in few weeks/months to come.

When one subscribes at the PRIMARY MARKET, when will the interest be paid? I subscribed at the PRIMARY MARKET on Tuesday. The full amount was deducted yesterday (Wednesday) and I am yet to have the interest paid into my account. This was with FBN.
NOTE: I filled UPFRONT payment of interest.

I am just curious. Had thought that they would leave the interest while deducting the balance at the prevailing rate for the particular tenor.
I am waiting for how it pans out today, else, I visit the bank tomorrow.
But, for the experienced, is this how it works?
Thanks!

kryptem:
When one subscribes at the PRIMARY MARKET, when will the interest be paid? I subscribed at the PRIMARY MARKET yesterday. The full amount was deducted and I am yet to have the interest paid into my account. This was with FBN.
NOTE: I filled UPFRONT payment of interest.

I am just curious. Had thought that they would leave the interest while deducting the balance at the prevailing rate for the particular tenor.
I am waiting for how it pans out today, else, I visit the bank tomorrow.
But, for the experienced, is this how it works?
Thanks!

it first bank ? Werey bank they might reinvested the interest too

Yahoo got me lol.

OgogoroFreak:
Yahoo

Pure Nigerian mentality........

Any rich young guy is into Yahoo! There are many young folks making millions in their businesses.

We need to change our ways in this country!

oluayebenz:


Pure Nigerian mentality........

Any rich young guy is into Yahoo! There are many young folks making millions in their businesses.

We need to change our ways in this country!

Pure Nigerian way of assimilating writeup...

Where did you see "RICH", "YOUNG" and "GUY" in my comment?

I wonder how people just give their own meaning to your comment and start attacking you based on the their own meaning they gave to your comment.

I am young and have made more than that in my businesses. So, my comment can't possibly mean "Any rich young Nigerian is into yahoo".

OgogoroFreak:
Pure Nigerian way of assimilating writeup.

Where did you see "RICH", "YOUNG" and "GUY" in my comment?

I wonder how people just give their own meaning to your comment and start attacking you based on the their own meaning they gave to your comment.

I am young and have made more than that in my businesses. So, my comment can't possibly mean "Any rich young Nigerian is into yahoo".

So tell us why you said his into Yahoo

kryptem:
When one subscribes at the PRIMARY MARKET, when will the interest be paid? I subscribed at the PRIMARY MARKET on Tuesday. The full amount was deducted yesterday (Wednesday) and I am yet to have the interest paid into my account. This was with FBN.
NOTE: I filled UPFRONT payment of interest.

I am just curious. Had thought that they would leave the interest while deducting the balance at the prevailing rate for the particular tenor.
I am waiting for how it pans out today, else, I visit the bank tomorrow.
But, for the experienced, is this how it works?
Thanks!

Same here with Zenith bank. The money was deducted from my balance with no mail or message. I will check with them tomorrow too if I didn't hear from them today.

Please can I use one accoun to buy 10 year FGN BOND 2029 ........LIKE 50K to buy FGN 2029 bond in September 2019 and same account to buy 100k same 2029 FGN bond in January 2020....knowing that the coupon will come every October and April till 2029. ....how will the different coupons of the 50k and 100k be entering the same account. ...I hope there will be no confusion from CBN when paying different coupons of same bond with different amount to the same one account i used for subscription....

Cc:

feelamong

emmanuelwumi

Other gurus

please help your boy

ukay2:
Please can I use one accoun to buy 10 year FGN BOND 2029 ........LIKE 50K to buy FGN 2029 bond in September 2019 and same account to buy 100k same 2029 FGN bond in January 2020....knowing that the coupon will come every October and April till 2029. ....how will the different coupons of the 50k and 100k be entering the same account. ...I hope there will be no confusion from CBN when paying different coupons of same bond with different amount to the same one account i used for subscription....

Cc:

feelamong

emmanuelwumi

Other gurus

please help your boy

yes you can, the will all appear on your cscs account and you will get your coupons as ususal.
Have no fear.

ernie4life:



yes you can, the will all appear on your cscs account and you will get your coupons as ususal.
Have no fear.

Am not using my broker Sir,.

Am using bank to subscribe to it....that is why aml asking.

ukay2:


Am not using my broker Sir,.

Am using bank to subscribe to it....that is why aml asking.

All bonds are warehoused on CSCS regardless of who the receiving agent(bank or broker) is

ernie4life:


All bonds are warehoused on CSCS regardless of who the receiving agent(bank or broker) is

Thank you Sir....

So I will fill my cscs account numb in the form for April 2029 fgn bond

Alert for matured TB just drop from Stanbic.

Just invested in Tbills few minutes ago @Stanbic IBTC.......105days @ 11.9%