Firstbank maturity dropped.

That about 1,225,000. Can one convert from your account in naira to eurobond?!

igbizen:

What about GTB? I have 3500 dollars just sitting there

Pls house any auction yesterday ..Results

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

Lol.... Well, if it was reinvested, I am cool with that else.....

Zenith bank gave me 12.75 percent on 364 tenor.

Confirmed just now

Top of the day Bosses, I purchased TB through Zenith bank on monday I recieved a mail of the contract letter and the transactions details today, the rate on the letter is 12.75% but when I made the calculations of the discount I recieved, it was 12.69% approximately 12.7%. Is there any way I can get back my 0.05%

NL1960:
Alert for matured TB just drop from Stanbic.

Got mine this morning too

From I-invest though.

Ought to have rẹ-invested but I'm holding out for another auction to see what prices come.

I am really disappointed with zenithbank, I entered for 364days, but I was treated for 182days, why is this so?

What's the rate for Stanbic 364 days primary market?

stevemarkdangot:
Top of the day Bosses, I purchased TB through Zenith bank on monday I recieved a mail of the contract letter and the transactions details today, the rate on the letter is 12.75% but when I made the calculations of the discount I recieved, it was 12.69% approximately 12.7%. Is there any way I can get back my 0.05%

Commission and custodian fees (0.05%) removed...

Donbrig:
I am really disappointed with zenithbank, I entered for 364days, but I was treated for 182days, why is this so?

Maybe the TB guy incharge entered the wrong tenor to Zenith server.

dake40:


Commission and custodian fees (0.05%) removed...

Thanks. After the 0.05%, 5k is still still not adding up. Is the 0.05% on face value?

Pls fam, i have 10m to invest but i don't know what it will generate for 91days! I'm just a newbie pls answer me! Thanks.

Sir ernie4life and other bond gurus .....in FGN 14.55% APRIL 2029 BOND, last August successful bid was 14.39%, what should I bid for this September auction ...

I also want to know the reason for bidding in bond investment when it's already at 14.55% coupon......

...please kindly explain to me why bidding again....is it the higher I bid for it , the less amount I will pay for the Bond?

Am confused on the reason for bidding for the Bond when it's already at 14.55% for the April 2029 FGN bond. ..


A beg my ogas am still waiting for your explanation.
.Thanks

stevemarkdangot:

Thanks. After the 0.05%, 5k is still still not adding up. Is the 0.05% on face value?

If you read my previous post... Sometime I wrote about Zenith Bank... This won't be a surprise to you.... We learn daily... Cheers...

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

real werey bank. I've stopped using them for secondary investment since the day one of their staff told me any second with interest paid upfront will be automatically rolled over at maturity even when you stated otherwise in the form except you come to notify them few days to maturity not to roll it over

pizapato:


real werey bank. I've stopped using them for secondary investment since the day one of their staff told me any second with interest paid upfront will be automatically rolled over at maturity even when you stated otherwise in the form except you come to notify them few days to maturity not to roll it over

The staff misinformed you. And you swallowed it like akpu and onugbu soup

olujaidi:


The staff misinformed you. And you swallowed it like akpu and onugbu soup

she did not, someone has complained of something similar on this thread.
They do automatically rollover against customers instruction

emmanuelewumi:


3 of my Treasury Bills were supposed to mature on 2nd November 2017.

But only 2 dropped out of the 3. The one that didn't drop was bought in the primary about some years back. I forgot to write a letter to First Bank to terminate the investment when it matured. First Bank automatically rollover primary market Treasury Bills when they mature.

I started that tranche of my Treasury Bills with 100k and always reinvested both principal and interest. The investment was for 182 days, the 100k through automatic reinvestment had grown to 177k.

Because of a post dated cheque which I gave my lawyer in June hoping to use the 177k Treasury Bills that will mature to settle, but my 177k didn't drop but was reinvested. Thank God the cheque was to be presented on 7th November 2017.

I had to write a letter on 2nd November that the 182 day Treasury Bills should be terminated prematurely. By 11.00am on Friday 3rd November 2017. I got an alert for the terminated Treasury Bills for the sum of N173470.50k, I was 3.5k short of the 177k my bank reinvested.

3.5k was the price I had to pay for my integrity to remain intact, because of the post dated cheques I issued with the hope of my Treasury Bills that would mature but my bank reinvested the fund due to my own carelessness.

The bank paid me an interest of N157.12k, for the 2 days my money was invested out of the 182 days before the premature termination of investment.

If the investment was allowed to mature it would have grown to over 190k at maturity instead of the 173.5k, I got due to the premature termination.

olujaidi

check this out

handsomebolanle:


If you read my previous post... Sometime I wrote about Zenith Bank... This won't be a surprise to you.... We learn daily... Cheers...

I have searched through your post I can't find it. Can you please re share?
Thanks

pizapato:


she did not, someone has complained of something similar on this thread.
They do automatically rollover against customers instruction

No they don't except you did not pick any option at all when filling the TB form

olujaidi:


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

Many thanks boss Feelamong. So what's your take on this? Finally, what's the process of investing in the actual Eurobond? Thanks for your time.

feelamong:


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.

Sarcasm!

oluayebenz:


So tell us why you said his into Yahoo

pizapato:


olujaidi

check this out

The poster said secondary market. Not primary. Mr Ewumi's post also talked about primary market. I do secondary market all the time and it's never happened to me

12-Month T-Bills Yield Hits 15.18% as OVN Rates Drops to 12.29%
https://businesspost.ng/2019/09/13/12-month-t-bills-yield-hits-15-18-as-ovn-rates-drops-to-12-29/

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

Please how does this work, how can I buy . Please put me through

seyisanya:
Many thanks boss Feelamong. So what's your take on this? Finally, what's the process of investing in the actual Eurobond? Thanks for your time.

To invest in actual Eurobonds...just speak to your Fund managers. I use Axa Mansard.

They will tell you the process which is basically to fund your dollar account with them.

mysticgal:


Please how does this work, how can I buy . Please put me through

Through your bank or stockbroker....please do ask any of them

Sir ernie4life and other bond gurus .....in FGN 14.55% APRIL 2029 BOND, last August successful bid was 14.39%, what should I bid for this September auction ...

I also want to know the reason for bidding in bond investment when it's already at 14.55% coupon......

...please kindly explain to me why bidding again....is it the higher I bid for it , the less amount I will pay for the Bond?

Am confused on the reason for bidding for the Bond when it's already at 14.55% for the April 2029 FGN bond. ..


A beg my ogas am still waiting for your explanation.
.Thanks

Good day people,

Please for user of i-invest, am I totally safe if I invest even when my KYC is yet to be authenticated?

Thank you!