With all I see here,mmf is bae finally..

purityval:
Hi guys.

Please I need some clarification on this issue.

Does cancellation fee apply the same across all banks?

A friend invested 2m with zenith bank a couple of weeks back and wants to cancel owing to some issues.

He hasn’t touched his upfront interest.

Can some clarify me on the expected penalty to this case?

Thanks

what is the minimum amount to invest?

Public Notice: Eligible Investors in Federal Government of Nigeria Securities

Following the Circular to All Banks referenced FMD/DIR/GEN/OGC/14/009 dated October 23, 2019 issued by the Central Bank of Nigeria (CBN), it has become necessary for the Debt Management Office (DMO) to issue this Notice on Eligible Investors for Securities issued by the Federal Government of Nigeria (FGN).


The general public is hereby advised that Open Market Operation Bills (OMO Bills) are securities issued by the CBN for monetary management purposes. Thus, the Circular in question which excluded some investor categories from investing in OMO Bills, is limited to OMO Bills and does not apply to securities issued by the FGN.


The DMO wishes to assure the general public that there is no restriction on persons who can invest in FGN Securities. Thus, all investors, local and foreign, including individuals, co-operative societies, social clubs, town associations, local corporates, fund/asset managers, pension funds, insurance companies, banks and others are eligible to invest in FGN Securities.


The DMO offers a wide range of FGN Securities in various tenors to meet the needs of its growing and diverse investor base. The securities whose tenors currently range from 91 Days to 30 Years are: Nigerian Treasury Bills (NTB), Federal Government of Nigeria Bonds (FGN Bonds), Federal Government of Nigeria Savings Bond (FGNSB), Sukuk and Green Bonds.


For further information, please visit www.dmo.gov.ng or send an email to enquiries@dmo.gov.ng.


DEBT MANAGEMENT OFFICE

The Presidency

NDIC Building (First Floor),

Plot 447/448 Constitution Avenue,

Central Business District,

P.M.B. 532, Garki, Abuja

Tel: +234 - 8110000881-3

Website: http://www.dmo.gov.ng,

Email: enquiries@dmo.gov.ng


October 28, 2019

https://www.dmo.gov.ng/news-and-events/dmo-in-the-news/public-notice-eligible-investors-in-federal-government-of-nigeria-securities

unite4real:
Public Notice: Eligible Investors in Federal Government of Nigeria Securities

Following the Circular to All Banks referenced FMD/DIR/GEN/OGC/14/009 dated October 23, 2019 issued by the Central Bank of Nigeria (CBN), it has become necessary for the Debt Management Office (DMO) to issue this Notice on Eligible Investors for Securities issued by the Federal Government of Nigeria (FGN).


The general public is hereby advised that Open Market Operation Bills (OMO Bills) are securities issued by the CBN for monetary management purposes. Thus, the Circular in question which excluded some investor categories from investing in OMO Bills, is limited to OMO Bills and does not apply to securities issued by the FGN.


The DMO wishes to assure the general public that there is no restriction on persons who can invest in FGN Securities. Thus, all investors, local and foreign, including individuals, co-operative societies, social clubs, town associations, local corporates, fund/asset managers, pension funds, insurance companies, banks and others are eligible to invest in FGN Securities.


The DMO offers a wide range of FGN Securities in various tenors to meet the needs of its growing and diverse investor base. The securities whose tenors currently range from 91 Days to 30 Years are: Nigerian Treasury Bills (NTB), Federal Government of Nigeria Bonds (FGN Bonds), Federal Government of Nigeria Savings Bond (FGNSB), Sukuk and Green Bonds.


For further information, please visit www.dmo.gov.ng or send an email to enquiries@dmo.gov.ng.


DEBT MANAGEMENT OFFICE

The Presidency

NDIC Building (First Floor),

Plot 447/448 Constitution Avenue,

Central Business District,

P.M.B. 532, Garki, Abuja

Tel: +234 - 8110000881-3

Website: http://www.dmo.gov.ng,

Email: enquiries@dmo.gov.ng


October 28, 2019

https://www.dmo.gov.ng/news-and-events/dmo-in-the-news/public-notice-eligible-investors-in-federal-government-of-nigeria-securities

Hope the banks (STANBIC IBTC ) will see this public notice

ukay2:


Hope the banks (STANBIC IBTC ) will see this public notice

Hopefully......

ukay2:



Hope the banks (STANBIC IBTC ) will see this public notice

Not only Stanbic infact theirs is even better.
Last week I was in FBN and Stanbic for TB enquiry after the new CBN policy. I was told nothing is available in the secondary market. Today, I visited other branches of the 2 banks different from the one I went. I asked about TB Secondary Market again and they said it wasn't available. Then I asked about Primary Market because according to the calender they should be an auction tomorrow.

In Stanbic the lady told me CBN has stopped everything TB but I disagreed. I told her what was stopped is CBN OMO and not TB then she asked me to wait and she printed the form for me to fill. However, I discovered that tanbic has added the charges/fees for TB on on the form as seen below;

Transaction Fee: 300+VAT
Commission: N100+ VAT
Safekeep(custody) Fee:0.05% *FACE VALUE*(TENOR/365)+ VAT

Though we have been paying all these charges all the while it was this afternoon I discovered that it's only one of them that was specified on the previous form.

I also saw that you can choose the custodian of your choice if you decide not to go with theirs (Stanbic IBTC Nominees LTD). Before there was no option as such.

Then I noticed the addition of a new form that will require a witness to sign for you before your request can be treated. The lady told me the form was introduced last week and it's compulsory to fill for TB investment so when going to Stanbic for TB investment you will have to go there with someone, consider begging someone in the banking hall to help you or you will carry the form to your witness to fill before returning it which was what I did eventually.

In Firstbank, FBN kubwa to be precise, the lady I asked said the rates are not available for both primary and secondary market. I told her I wanted to do primary and that rates for it are not usually available till after auction. She said they have not sent the advice to their branch and as such she would not give me the form to fill because if she does I will come and disturb her later. I jejely transferred my chicken change to Stanbic instantly. I have been using FBN for my small small TB monthly savings but as it is now I intend to research investment houses to see which one I can flow with. When I am finally convinced about the flexibility of anyone now, I will gradually move my coins there. Hopefully in no distant time I will be eligible to bid for commercial papers myself then I will benefit more from any investment house I choose.

I just received a refund of my TBills fund with the message "Cancelled TBills" from First Bank.

Did any other person receive such message?

freeman67:


Not only Stanbic infact theirs is even better.
Last week I was in FBN and Stanbic for TB enquiry after the new CBN policy. I was told nothing is available in the secondary market. Today, I visited other branches of the 2 banks different from the one I went. I asked about TB Secondary Market again and they said it wasn't available. Then I asked about Primary Market because according to the calender they should be an auction tomorrow.

In Stanbic the lady told me CBN has stopped everything TB but I disagreed. I told her what was stopped is CBN OMO and not TB then she asked me to wait and she printed the form for me to fill. However, I discovered that tanbic has added the charges/fees for TB on on the form as seen below;

Transaction Fee: 300+VAT
Commission: N100+ VAT
Safekeep(custody) Fee:0.05% *FACE VALUE*(TENOR/365)+ VAT

Though we have been paying all these charges all the while it was this afternoon I discovered that it's only one of them that was specified on the previous form.

I also saw that you can choose the custodian of your choice if you decide not to go with theirs (Stanbic IBTC Nominees LTD). Before there was no option as such.

Then I noticed the addition of a new form that will require a witness to sign for you before your request can be treated. The lady told me the form was introduced last week and it's compulsory to fill for TB investment so when going to Stanbic for TB investment you will have to go there with someone, consider begging someone in the banking hall to help you or you will carry the form to your witness to fill before returning it which was what I did eventually.

In Firstbank, FBN kubwa to be precise, the lady I asked said the rates are not available for both primary and secondary market. I told her I wanted to do primary and that rates for it are not usually available till after auction. She said they have not sent the advice to their branch and as such she would not give me the form to fill because if she does I will come and disturb her later. I jejely transferred my chicken change to Stanbic instantly. I have been using FBN for my small small TB monthly savings but as it is now I intend to research investment houses to see which one I can flow with. When I am finally convinced about the flexibility of anyone now, I will gradually move my coins there. Hopefully in no distant time I will be eligible to bid for commercial papers myself then I will benefit more from any investment house I choose.

Thanks Sir.

For stanbic. ...I have email indemnity with them ....I will ask them to send the new form to my email so that I will fill it wheneveram investing.

Also, the new DMO office circular of today. ...I will send it to them to know if there are away of it.


I know the treasury bills secondary market will be open again soonest with this new circular from DMO-Nigeria

Have they added the amount the requested for Investment at your leger balance.

The new form they ask people to fill for primary market is called "Information on Fixed Income Securities".

The custodian is ok to be Stanbic so you won't go and choose a custodian that is about to do BenJohnson

freeman67:


Not only Stanbic infact theirs is even bet
Last week I was in FBN and Stanbic for TB enquiry after the new CBN policy. I was told nothing is available in the secondary market. Today, I visited other branches of the 2 banks different from the one I went. I asked about TB Secondary Market again and they said it wasn't available. Then I asked about Primary Market because according to the calender they should be an auction tomorrow.

In Stanbic the lady told me CBN has stopped everything TB but I disagreed. I told her what was stopped is CBN OMO and not TB then she asked me to wait and she printed the form for me to fill. However, I discovered that tanbic has added the charges/fees for TB on on the form as seen below;

Transaction Fee: 300+VAT
Commission: N100+ VAT
Safekeep(custody) Fee:0.05% *FACE VALUE*(TENOR/365)+ VAT

Though we have been paying all these charges all the while it was this afternoon I discovered that it's only one of them that was specified on the previous form.

I also saw that you can choose the custodian of your choice if you decide not to go with theirs (Stanbic IBTC Nominees LTD). Before there was no option as such.

Then I noticed the addition of a new form that will require a witness to sign for you before your request can be treated. The lady told me the form was introduced last week and it's compulsory to fill for TB investment so when going to Stanbic for TB investment you will have to go there with someone, consider begging someone in the banking hall to help you or you will carry the form to your witness to fill before returning it which was what I did eventually.

In Firstbank, FBN kubwa to be precise, the lady I asked said the rates are not available for both primary and secondary market. I told her I wanted to do primary and that rates for it are not usually available till after auction. She said they have not sent the advice to their branch and as such she would not give me the form to fill because if she does I will come and disturb her later. I jejely transferred my chicken change to Stanbic instantly. I have been using FBN for my small small TB monthly savings but as it is now I intend to research investment houses to see which one I can flow with. When I am finally convinced about the flexibility of anyone now, I will gradually move my coins there. Hopefully in no distant time I will be eligible to bid for commercial papers myself then I will benefit more from any investment house I choose.

Donvitalis:
I just received a refund of my TBills fund with the message "Cancelled TBills" from First Bank.

Did any other person receive such message?

�

We need to contribute more oh... This Is a new development in TB... New guidelines, if you have borrowed money.... U won't be allowed to do TB?

All of you that said people that took loans and dumped in Tbills are smart, come and see where your smartness has led us.

Donvitalis:
I just received a refund of my TBills fund with the message "Cancelled TBills" from First Bank.

Did any other person receive such message?

Sorry about the mishap, are you on any loan?

It's like people really turned to I invest app these past two days, they only have few(3) tenures left on the apps as at this evening.

Donvitalis:


�

since when have your tbills been running ? for how long has the tbills stays before your were refunded ?

It seems most wealthy Nigerians earn their wealth from shady foundation,I use to dream of becoming rich and look up to some mentors but lately am very disappointed,I used I wonder what sort of bussiness the like of e money,mompha ,iventus obi do to earn such huge money that they can afford cars wort 400k dollars ...

freeman67:


Not only Stanbic infact theirs is even better.
Last week I was in FBN and Stanbic for TB enquiry after the new CBN policy. I was told nothing is available in the secondary market. Today, I visited other branches of the 2 banks different from the one I went. I asked about TB Secondary Market again and they said it wasn't available. Then I asked about Primary Market because according to the calender they should be an auction tomorrow.

In Stanbic the lady told me CBN has stopped everything TB but I disagreed. I told her what was stopped is CBN OMO and not TB then she asked me to wait and she printed the form for me to fill. However, I discovered that tanbic has added the charges/fees for TB on on the form as seen below;

Transaction Fee: 300+VAT
Commission: N100+ VAT
Safekeep(custody) Fee:0.05% *FACE VALUE*(TENOR/365)+ VAT

Though we have been paying all these charges all the while it was this afternoon I discovered that it's only one of them that was specified on the previous form.

I also saw that you can choose the custodian of your choice if you decide not to go with theirs (Stanbic IBTC Nominees LTD). Before there was no option as such.

Then I noticed the addition of a new form that will require a witness to sign for you before your request can be treated. The lady told me the form was introduced last week and it's compulsory to fill for TB investment so when going to Stanbic for TB investment you will have to go there with someone, consider begging someone in the banking hall to help you or you will carry the form to your witness to fill before returning it which was what I did eventually.

In Firstbank, FBN kubwa to be precise, the lady I asked said the rates are not available for both primary and secondary market. I told her I wanted to do primary and that rates for it are not usually available till after auction. She said they have not sent the advice to their branch and as such she would not give me the form to fill because if she does I will come and disturb her later. I jejely transferred my chicken change to Stanbic instantly. I have been using FBN for my small small TB monthly savings but as it is now I intend to research investment houses to see which one I can flow with. When I am finally convinced about the flexibility of anyone now, I will gradually move my coins there. Hopefully in no distant time I will be eligible to bid for commercial papers myself then I will benefit more from any investment house I choose.

I think I was one of the very first persons to use the new stanbic Tbill form- early this month, I submitted for secondary market and was rejected due to the fact that they just released the form. So I was sent the new form.

I use to see many of them in quilox and movida and the spending pattern doest like sweat hustle money ....i doubt if dangote will have watches of 60m or buy a condo for 5m dollars this sum can build rice mills and employ people

How can mompha be having watches of 60m that like 4 solid trucks 50000 litres that can net 2m monthly...i keep asking question dem say na bdc but I have one an Cbn allocate 70k dollars weekly at a margin of 3 naira Max ...210 k ....so where is the Bentley wraith money going to add up

See the Stella odua recent scandals of diverting airport security funds 5bn to set up crystal radio and tv and six dregers and a senate seat ....i used to be impress by her as a woman with depot...spog

I have tried several to understudy very rich and succefuly enterprenures to act as a guide and fellow the route but I end up disappointed it either they where in goverment in the 1980 or friends to military dictators or smugglers ( max air owner) or loan deflauter like capital oil and rahammaniya or subsidy scammers or yahoo people or treasury looter

See arik air and rockson engineer and fail power contractor ....cant we have normal rich people like Jeff boz , Alibaba,buffet etc that generate wealth via inventions , manufacturing or talent ?....cant we as a people

Philantropists:
Have they added the amount the requested for Investment at your leger balance.

The new form they ask people to fill for primary market is called "Information on Fixed Income Securities".

The custodian is ok to be Stanbic so you won't go and choose a custodian that is about to do BenJohnson

No not yet. Though it's been a while I invested with them but if I can recall most times they add it after auction.

ahiboilandgas:
It seems most wealthy Nigerians earn their wealth from shady foundation,I use to dream of becoming rich and look up to some mentors but lately am very disappointed,I used I wonder what sort of bussiness the like of e money,mompha ,iventus obi do to earn such huge money that they can afford cars wort 400k dollars ...

With the way FBI & EFCC are torch-lighting them now..I believe you have can imagine how they got it now. Genuine business men do not waste money that way. I still believe you can be richer in clean business. It's just for God to pick your call and let you discover a line of business people are not familiar with and before they wake up to know you are already dominating everywhere.

ahiboilandgas:
It seems most wealthy Nigerians earn their wealth from shady foundation,I use to dream of becoming rich and look up to some mentors but lately am very disappointed,I used I wonder what sort of bussiness the like of e money,mompha ,iventus obi do to earn such huge money that they can afford cars wort 400k dollars ...

ahiboilandgas:
I use to see many of them in quilox and movida and the spending pattern doest like sweat hustle money ....i doubt if dangote will have watches of 60m or buy a condo for 5m dollars this sum can build rice mills and employ people

ahiboilandgas:
How can mompha be having watches of 60m that like 4 solid trucks 50000 litres that can net 2m monthly...i keep asking question dem say na bdc but I have one an Cbn allocate 70k dollars weekly at a margin of 3 naira Max ...210 k ....so where is the Bentley wraith money going to add up

ahiboilandgas:
See the Stella odua recent scandals of diverting airport security funds 5bn to set up crystal radio and tv and six dregers and a senate seat ....i used to be impress by her as a woman with depot...spog

ahiboilandgas:
I have tried several to understudy very rich and succefuly enterprenures to act as a guide and fellow the route but I end up disappointed it either they where in goverment in the 1980 or friends to military dictators or smugglers ( max air owner) or loan deflauter like capital oil and rahammaniya or subsidy scammers or yahoo people or treasury looter

ahiboilandgas:
See arik air and rockson engineer and fail power contractor ....cant we have normal rich people like Jeff boz , Alibaba,buffet etc that generate wealth via inventions , manufacturing or talent ?....cant we as a people

wow... really really thought provoking

freeman67:


With the way FBI & EFCC are torch-lighting them now..I believe you have can imagine how they got it now. Genuine business men do not waste money that way. I still believe you can be richer in clean business. It's just for God to pick your call and let you discover a line of business people are not familiar with and before they wake up to know you are already dominating everywhere.

Not that easy with an offline business.

Unless you are running a tech start-up.

ahiboilandgas:
How can mompha be having watches of 60m that like 4 solid trucks 50000 litres that can net 2m monthly...i keep asking question dem say na bdc but I have one an Cbn allocate 70k dollars weekly at a margin of 3 naira Max ...210 k ....so where is the Bentley wraith money going to add up

I really hate seeing this whole Dangote this and that thereby painting him as a clean man that makes his money legitimately.Another is this whole rich people don't live like this and that,they don't buy expensive cars and watches bs.

Dangote supports politicians in order to protect his interest.He funds their election campaigns which he indirectly provides money for election violence in Nigeria.Why will Nigerians pay ridiculous amount of money for cement.Why isn't the govt doing anything about it?? He's no saint

Why will the rich spend money on private planes when they can spend far less money on economic flights if they are so economical with money?? Why will Dangote and co go buy a house in Banana island when they can equally purchase an apartment for far lesser cost in a very secured location in that same Lagos?? I can go on and on. Same way some people spend millions of naira on a house they can sleep in one bedroom at a time will someone spend millions on a watch if he deems it necessary. Rich people spend money on expensive things.Let's don't get it twisted

ahiboilandgas:
See arik air and rockson engineer and fail power contractor ....cant we have normal rich people like Jeff boz , Alibaba,buffet etc that generate wealth via inventions , manufacturing or talent ?....cant we as a people

There's nothing like normal rich people in this world.Maybe there are but they are not renowned and very few. The world is not a place that you just wake up one morning and you have millions of dollars in your account..Many rich people have in one way or the other have their hands littered with dirty money. Microsoft/Bill Gates has been accused of being a military contractor for the US army.Facebook was exposed to selling peoples data to the US govt. These are people that are known to sit in front of their PC and all of a sudden came up with some fantastic stuff that blew away the waters and they went from Zero to Hero

Adiwana:


I really hate seeing this whole Dangote this and that thereby painting him as a clean man that makes his money legitimately.Another is this whole rich people don't live like this and that,they don't buy expensive cars and watches bs.

Dangote supports politicians in order to protect his interest.He funds their election campaigns which he indirectly provides money for election violence in Nigeria.Why will Nigerians pay ridiculous amount of money for cement.Why isn't the govt doing anything about it?? He's no saint

Why will the rich spend money on private planes when they can spend far less money on economic flights if they are so economical with money?? Why will Dangote and co go buy a house in Banana island when they can equally purchase an apartment for far lesser cost in a very secured location in that same Lagos?? I can go on and on. Same way some people spend millions of naira on a house they can sleep in one bedroom at a time will someone spend millions on a watch if he deems it necessary. Rich people spend money on expensive things.Let's don't get it twisted

I do not know about Dangote's support for politician and spending funding violence. I will however tell you that real businessmen do not buy things for show off but because it is necessary. For real businessmen, time is money and as such flying at your own time and pace is required if you can afford it. You will agree with me that Banana Island is more secured than even the other areas you feel are more secured also, accessibility of an area and the network of people you can relate with around that area is very vital too.

Some people spend millions in buying or building mansions because they know they may have people that will visit at interval and would want to stay there. There are different from the group of people that acquire those things just for the glams.. You will not see them arguing about who is richer.. They know their worth.

Grupo:


Not that easy with an offline business.

Unless you are running a tech start-up.

True but it is still possible..

freeman67:


I do not know about Dangote's support for politician and spending funding violence. I will however tell you that real businessmen do not buy things for show off but because it is necessary. For real businessmen, time is money and as such flying at your own time and pace is required if you can afford it. You will agree with me that Banana Island is more secured than even the other areas you feel are more secured also, accessibility of an area and the network of people you can relate with around that area is very vital too.

Some people spend millions in buying or building mansions because they know they may have people that will visit at interval and would want to stay there. There are different from the group of people that acquire those things just for the glams.. You will not see them arguing about who is richer.. They know their worth.

Well,if Bill Gates goes for a holiday on a yacht at a place like Ibiza or St Tropez for 2 Weeks,nobody will tag it unnecessary or show off. But that's some tens of millions of naira or probably dollars in spending.This is in no way adding any value to him.That money spent only in two weeks could probably build a factory or taken a lot of people off the streets through other means of employment.Difference between him and Mompha in this case is that he didn't post pictures of him inside the yacht.Dangote would probably be owning some Presidential rolex or Hublot.Jay-Z owns one of those.Difference between the two is that Jay-Z brags about it in his songs and Dangote doesn't.Both are Billionaires

In essence,rich people spend money just like everyone else.And just like everyone else,they spend money on stupid stuffs.They are not morally better

Donvitalis:
I just received a refund of my TBills fund with the message "Cancelled TBills" from First Bank.

Did any other person receive such message?

I receive a refund too with the message cancelled as requested. I obviously didn't request for any cancellation neither did I borrow money from from any bank or person. seriously I don't seem to understand.
the worst is that I went to Fidelity Bank and I was told that the minimum for TB is 1million naira and I was like hmmm.
pls any experience from other banks?
is 1million actually the minimum in other banks?
any response will be appreciated