https://www.nairaland.com/attachments/10459226_exclusive_jpeg7c18a04b68108c82e9e789ccfd531bf0.
So only banks and foreigners can now subscribe to tbills? cos it's stated that even non-bank financial institutions are barred.

ahiboilandgas:
no buhari don cast that level using aquila project (gprs) to track trucks movements and ppra refuse to give import permit /allocation since 2015 . Na only nnpc they import and give depots then do under recovery and one complex crude swap scheme ...so no money is changing hands.....some of the subsidy scammers are now legit with depots and stations and govt is doing bussiness with them as they have no option...look at the crude swap list dem plenty some na even semi illirates own it

Lol, could this be one of the reasons otedola sold his company? Lol
According to this report though we still pay subsidy despite the fuel pump increase so who is benefiting from this?
https://www.theafricareport.com/418/nigeria-the-cost-of-cheaper-petrol/

ahiboilandgas:
it not for us small players ...omo auction na for big players,financial company etc

If the rates don’t increase after this policy I give up.

chigo4u:

Is it not only about debtors?

I saw this link and was wondering what it means when they say individual.

https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=2ahUKEwi6grGghLrlAhVQKVAKHdFECzYQFjAAegQIARAB&url=https%3A%2F%2Fwww.pulse.ng%2Fbi%2Ffinance%2Fcbn-bars-individuals-and-local-corporates-from-buying-omo-bills%2Fzt3g8hw&usg=AOvVaw3wLxvCiCM5e-GAuCytasOF

igbizen:

And the righteous ones are shouting in their drowning voices-“it’s a crime!!!”

it is a crime. Call a spade a spade. Are u into such??

nofundforme:
it is a crime. Call a spade a spade. Are u into such??

Yes, please come and arrest me! Lol ( No fund for you)

igbizen:

Yes, please come and arrest me! Lol ( No fund for you)

What goes around comes around. Don't worry, karma is there do the work.

nofundforme:

What goes around comes around. Don't worry, karma is there do the work.

No fund for you is enough karma - I can see you are talking from experience.

Serious people pls discus how CBN action take affect us jare. This is Investment section not religious section abeg.

igbizen:

No fund for you is enough karma - I can see you are talking from experience.

Serious people pls discus how CBN action take affect us jare. This is Investment section not religious section abeg.

You are pained? Truth is always bitter. It is people like you that is making this country corrupt. Keep on looking for a name to call your criminal act. No matter what you call it, you can't play karma. This is not religious section, but it is a section where u can show your criminal prowess??

nofundforme:


You are pained? Truth is always bitter. It is people like you that is making this country corrupt. Keep on looking for a name to call your criminal act. No matter what you call it, you can't play karma. This is not religious section, but it is a section where u can show your criminal prowess??

People like you will be the first to grab the opportunity if they see it. Once Nigerians are not benefiting from something they call it all sorts of names, then when they get it they keep quiet. No one talks while eating over here. There is nothing criminal about it. Your religion rather is the biggest problem of Nigeria

chigo4u:

Lol, could this be one of the reasons otedola sold his company? Lol
According to this report though we still pay subsidy despite the fuel pump increase so who is benefiting from this?
https://www.theafricareport.com/418/nigeria-the-cost-of-cheaper-petrol/

yes margins are down since the main product pms 50m litres daily is out of reach to firms .they depend on deseal ,kero ,jet fuel but this product are not subsidies any more...only petrol and pmb has kick them out of the import bussiness and give just 20 percent of their capacity as allocation ...total down stream declare loss,MRS oil plc too...the future is uncertain

ahiboilandgas:
yes margins are down since the main product pms 50m litres daily is out of reach to firms .they depend on deseal ,kero ,jet fuel but this product are not subsidies any more...only petrol and pmb has kick them out of the import bussiness and give just 20 percent of their capacity as allocation ...total down stream declare loss,MRS oil plc too...the future is uncertain

Interesting times ahead

chigo4u:

People like you will be the first to grab the opportunity if they see it. Once Nigerians are not benefiting from something they call it all sorts of names, then when they get it they keep quiet. No one talks while eating over here. There is nothing criminal about it. Your religion rather is the biggest problem of Nigeria

Don't use that to console yourself. That's how u are wired thinking that everybody is like u. I think from your analogy so far, one can deduce that in this country there is nothing like corruption, rather it is smartness. Do I look like a religious person to u?

nofundforme:


Don't use that to console yourself. That's how u are wired thinking that everybody is like u. I think from your analogy so far, one can deduce that in this country there is nothing like corruption, rather it is smartness. Do I look like a religious person to u?

There is no need continuing this argument, enough points have been raised by both sides for you to decide where to stand on so don’t go about calling anyone who doesn’t agree with you criminal. Deal with your emotions yourself. Let’s not derail the thread any further

chigo4u:

There is no need continuing this argument, enough points have been raised by both sides for you to decide where to stand on so don’t go about calling anyone who doesn’t agree with you criminal. Deal with your emotions yourself. Let’s not derail the thread any further

I didn't see that as an argument, except you argue with facts. I only made a correction base on his notion.Some acts are not justifiable by just giving it a name that is good to your hearing. Smartness and criminality are not the same.

chigo4u:

Interesting times ahead

currently firm are in neck to neck competition for the small margin left and unsubsidized product ...we currently move around 15m litres of aviation fuel annually .from 6m litres...but this firms borrowed billions to build a huge infastructure with petrol omport/subsidies bussiness as the main cash cow ....now pmb destroy their projection it will be like that for 8 years to come no body planned or predicted it ....some are already out of bussiness with billion in loan hanging with amcon like capital oil,D Jones ,spog etc other with distribution outlets (still surving)...others like falawiyo.rolling outlet with enyo to survive....dangote planing the final burial of the bussiness ...me am divesting into bdc ,tb ,property and a phd to survive the unsult....otedola out already moving to zenon power plant (more reliable),adenuga abandoning conoil to focus on glo ,first bank and beger,ifanyi uba divesting to senate......

Nigsrdumb:
https://threadreaderapp.com/thread/1187793288780288001.html

Interesting thread. So looks like this wony have any effects on tbills rate afterall, might just affect FX rate? It means one of these will happen

nofundforme:


I didn't see that as an argument, except you argue with facts. I only made a correction base on his notion.Some acts are not justifiable by just giving it a name that is good to your hearing. Smartness and criminality are not the same.

Well this a case of smartness not criminality. That’s it. It cannot become a crime because you don’t like it!

ahiboilandgas:
currently firm are in neck to neck competition for the small margin left and unsubsidized product ...we currently move around 15m litres of aviation fuel annually .from 6m litres...but this firms borrowed billions to build a huge infastructure with petrol omport/subsidies bussiness as the main cash cow ....now pmb destroy their projection it will be like that for 8 years to come no body planned or predicted it ....some are already out of bussiness with billion in loan hanging with amcon like capital oil,D Jones ,spog etc other with distribution outlets (still surving)...others like falawiyo.rolling outlet with enyo to survive....dangote planing the final burial of the bussiness ...me am divesting into bdc ,tb ,property and a phd to survive the unsult....otedola out already moving to zenon power plant (more reliable),adenuga abandoning conoil to focus on glo ,first bank and beger,IFEANYI UBA divesting to senate......

This got me laffing. Las las na diversification na hin be d mother of survivability

chigo4u:

Well this a case of smartness not criminality. That’s it. It cannot become a crime because you don’t like it!

Alright, case close.

Grupo:


You are a joker.

You approached a bank and they gave you a loan because you mentioned specifically that the money would be used to start an agro business.

Keyword: start an agro business not invest it in treasury bills.

Imagine how people react emotionally without reading, I never approached the bank, the reverse was the case. I never asked for agric loan, I do an entirely different thing and the loan was never for agricultural purposes, they just came up with the reason of expansion. Read and comprehend before commenting. Wish I can post their letter but it's not just worth it

ahiboilandgas:
currently firm are in neck to neck competition for the small margin left and unsubsidized product ...we currently move around 15m litres of aviation fuel annually .from 6m litres...but this firms borrowed billions to build a huge infastructure with petrol omport/subsidies bussiness as the main cash cow ....now pmb destroy their projection it will be like that for 8 years to come no body planned or predicted it ....some are already out of bussiness with billion in loan hanging with amcon like capital oil,D Jones ,spog etc other with distribution outlets (still surving)...others like falawiyo.rolling outlet with enyo to survive....dangote planing the final burial of the bussiness ...me am divesting into bdc ,tb ,property and a phd to survive the unsult....otedola out already moving to zenon power plant (more reliable),adenuga abandoning conoil to focus on glo ,first bank and beger,ifanyi uba divesting to senate......

So if these billions these men have been taking is now being channeled into the economy why are we not feeling the effects? Why is the govt taking more debts?

chigo4u:

So if these billions these men have been taking is now being channeled into the economy why are we not feeling the effects? Why is the govt taking more debts?

this billion where borrowed by the govt to pay subsidies ...the govt earned around 3.6 trillion and spent 5 trillion so the 1.4 trillion was borrowed continuesly over several years ..we have even borrowed against our future earning and used it to pay consumption against building cash returning infastructure .....we will pay dearly for this with our kids ....we are even paying 460m dollars for non working cctv cameras .....we have big infastructure gap....solution increase the earnings of state via tax hikes or increasing the number of tax payers or increase crude export to 5m barrel or add more minimal for export ....
But the black man is too backward to proggress

ahiboilandgas:
this billion where borrowed by the govt to pay subsidies ...the govt earned around 3.6 trillion and spent 5 trillion so the 1.4 trillion was borrowed continuesly over several years ..we have even borrowed against our future earning and used it to pay consumption against building cash returning infastructure .....we will pay dearly for this with our kids ....we are even paying 460m dollars for non working cctv cameras .....we have big infastructure gap....solution increase the earnings of state via tax hikes or increasing the number of tax payers or increase crude export to 5m barrel or add more minimal for export ....
But the black man is too backward to proggress

You are a guru.

ahiboilandgas:
this billion where borrowed by the govt to pay subsidies ...the govt earned around 3.6 trillion and spent 5 trillion so the 1.4 trillion was borrowed continuesly over several years ..we have even borrowed against our future earning and used it to pay consumption against building cash returning infastructure .....we will pay dearly for this with our kids ....we are even paying 460m dollars for non working cctv cameras .....we have big infastructure gap....solution increase the earnings of state via tax hikes or increasing the number of tax payers or increase crude export to 5m barrel or add more minimal for export ....
But the black man is too backward to proggress

Wow

We can't subscribed to tb again?
My tb ll expired March next year, do I need to find alternative before expiring date cuz av planned for next interest coming next?

feelamong:
www.nairaland.com/attachments/1354359_NTB_jpg9d4cae535bd0bde1399af69caf610bc5

Treasury Bills! Why It Is The Best Investment For Now:

A lot of people have been asking for some time what Tbills are all about and where they could buy the bills from,

This thread is dedicated for all issues related to Treasury Bills, their going rates, when Auctions are due and why they should be bought,

I am not a Finance person, am just a trader who was lucky to work in one financial insitution years back so I might not be the best person to answer questions on this as they come, But am sure we have a lot of financial gurus with CFAs in this Forum and all our questions would be answered,

*BOI Microfinance Bank *

Do you know an entrepreneur, business owner or salary earner who requires Assest Finace, Working Capital or Consumer Loan? Kindly refer them to me *Victor 07068208445*
At Bank Of Industry Micro Finance Bank we disburse loans N200,000 – N 5,000,000. @ 4% monthly interest rates on Principal on a reducing balance basis.
Repayment is between 6-12 months depending on cashflow.
Turn around time is 3-5 Working Days
Collateral: One Good Guarantor (Working class in a reputable organisation preferable)
N.B: Eligible for active business owners and salary earners in LAGOS ONLY!!!
Basic Requirements
• 2 Recent passports
• Copy of valid identity card
• Utility bill(within the preceding 3 months)
• Initial Deposit-3,000 (Inclusive Credit Search)
• Statement of account for a minimum of 6 months


Please help Repost to Friends,Family and colleagues.

prolifik83:
*BOI Microfinance Bank *

Do you know an entrepreneur, business owner or salary earner who requires Assest Finace, Working Capital or Consumer Loan? Kindly refer them to me *Victor 07068208445*
At Bank Of Industry Micro Finance Bank we disburse loans N200,000 – N 5,000,000. @ 4% monthly interest rates on Principal on a reducing balance basis.
Repayment is between 6-12 months depending on cashflow.
Turn around time is 3-5 Working Days
Collateral: One Good Guarantor (Working class in a reputable organisation preferable)
N.B: Eligible for active business owners and salary earners in LAGOS ONLY!!!
Basic Requirements
• 2 Recent passports
• Copy of valid identity card
• Utility bill(within the preceding 3 months)
• Initial Deposit-3,000 (Inclusive Credit Search)
• Statement of account for a minimum of 6 months


Please help Repost to Friends,Family and colleagues.

48 percent that arm robbery

ahiboilandgas:
48 percent that arm robbery

Smartness- but as a knowledgeable guy in finance, you can outsmart them by not falling for it.

The terms were stated clearly 4% per month. So those that are not smart would look at only the 4% not knowing that they are paying 48% per annum(4% * 12months).

The same thing that happens in the cooperative at my place of work. The interest is 10%. But if you want to borrow 1million, you have to have 500k saved in the cooperative. So the 10% is charged on the 1 million you borrowed and you can’t touch the 500k you’ve saved until you pay the 1 million naira completely.

I was trying to educate my colleagues that the interest is actually 20%.

igbizen:


The same thing that happens in the cooperative at my place of work. The interest is 10%. But if you want to borrow 1million, you have to have 500k saved in the cooperative. So the 10% is charged on the 1 million you borrowed and you can’t touch the 500k you’ve saved until you pay the 1 million naira completely.

I was trying to educate my colleagues that the interest is actually 20%.

How? Explain your reasoning with figures

olujaidi:


How? Explain your reasoning with figures

I have 500k savings and I need to borrow another 500k. Instead my 500k is given back to me @10% interest and another 500k @10% interest. The smartness there is that digitally you will be seeing ur 500k in ur account which you cannot touch until you have paid the debt completely. They argue that it is in the form of collateral

But in actual sense, the true collateral is tied to ur benefits. The company will pay cooperative first b4 they give you what is left, if you decide to leave the company.