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Nairaland Forum / Nairaland / General / Investment / Treasury Bills In Nigeria (4597091 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 emmanuelewumi(m): 6:44pm On Feb 26, 2021 |
Tobex4realTobex234: But the big banks that charge about 1.5% per month are making a hell of money from poor and helpless Nigerians I have told Nigerians to stop keeping money in the banks again, microfinance banks and fintech firms are better 3 Likes |
Re: Treasury Bills In Nigeria by ChybuzzDD(m): 7:32pm On Feb 26, 2021 |
emmanuelewumi: I hope you know the connterparts of these your 'big banks' abroad in developed economies don't charge upto thst 1.5% for the entire year? Why are you not seeing 1.5% per month as being excessive for a struggling economy? Shouldn't banks in such an economy offer a lower interest rate relative to those of the first world economy? No, you won't support that, because you need their outrageous earnings to get higher dividends. Your position shows how selfish an average Nigerian is, and hence, the reason the country's economy will perpetually remain in the woods. 12 Likes |
Re: Treasury Bills In Nigeria by Nobody: 7:49pm On Feb 26, 2021 |
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Re: Treasury Bills In Nigeria by Donbrig: 8:01pm On Feb 26, 2021 |
You just viewed it from my own perspective. It is all about greed. emmanuelewumi is only supporting the unethical banking modalities in Nigeria because it favours his investment plans, perhaps he has enough money to pump into the system and make huge profits, forgetting about the millions of people who don't have such privileges and might become a threat to his own investments and life. I have lots of investments in Nigeria, mainly hotels, bakeries and real estates, but whenever I look at the unfair system I am making money, I begin to ask myself lots of questions. King Solomon called it vexation of the spirit, all vanity. At the end of it all, it is far better to have a healthy society with fairness and equality, than have a few multi millionaires and billionaires who doesn't want the status quo to change for the betterment of the masses. ChybuzzDD: 15 Likes 2 Shares |
Re: Treasury Bills In Nigeria by Nobody: 8:11pm On Feb 26, 2021 |
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Re: Treasury Bills In Nigeria by Godbpraised: 8:25pm On Feb 26, 2021 |
Oga sah, you do not have to say his greedy, the system created the whole mess, his taking advantage. In the west too they are loopholes and people are taking positions. ChybuzzDD: 7 Likes |
Re: Treasury Bills In Nigeria by maishai: 8:37pm On Feb 26, 2021 |
Donbrig: Why blame him for a system the whole world has adopted, he just found a way to get his own cut from the system of things by analyzing numbers............. Don't place a judgement on his dealings Entering deep into this discussion would mean delving into the fundamentals of how to run a society, an emotionally charged topic for we humans....... 14 Likes |
Re: Treasury Bills In Nigeria by emmanuelewumi(m): 9:19pm On Feb 26, 2021 |
Power and wealth belongs to the people. The poor and helpless Nigerians are in majority although they contribute less than 5% of the bank deposits, they should come together and not allow the banks to make hundreds of billions of Naira profits and ten of Trillion naira equity from their little deposits. They should keep their money at home, or try banks that are for poor, helpless and average Nigerians like microfinance banks and fintechs. Rather than lamenting and exhibiting their childish frustrations 5 Likes |
Re: Treasury Bills In Nigeria by demelza: 9:43pm On Feb 26, 2021 |
Banks are not government and charitable organizations. They are here to make money. All these complaints about poor people being tAkEn AdVaNtAgE of should be directed to your government not people that have figured out a way to stay afloat in the brutish system. Should we all stop living because there are poor people? Even Jesus said the poor will always be among you. Still, if you are uneasy about the whole thing, then do something about it. Good thing someone here mentioned that the founders of GTB took the bulls by the horn instead of complaining about the system. Nowadays you don't even need the capital they used at the time. Open your own online bank or loan app and give people loans with zero percent interest. Set a precedent so others will follow instead of displaying grievance at the wrong source. Change begins with you. 15 Likes 1 Share |
Re: Treasury Bills In Nigeria by OldBeer: 10:21pm On Feb 26, 2021 |
Ask all these people that are always so concerned about the poor what they have done for them. Whosai! If you're are lucky, dey will tell you about the 5k or cup of rice they gave to Mama Wasiu last month. That act puts them in good stead to judge others... The annoying thing is they always bring up this poor people argument when other people are discussing their own money plans... Oya na oga, sell off everything you have and give to this poor people that you love so much. After all love no be for mouth. For where? So after I don finish studying a system that has been in place even before my great-grandfather, one person will now wake up to make me feel guilty for benefiting from dat system. #Dem no born you well. 6 Likes |
Re: Treasury Bills In Nigeria by Nobody: 10:35pm On Feb 26, 2021 |
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Re: Treasury Bills In Nigeria by Tobex4realTobex234(m): 11:27pm On Feb 26, 2021 |
Confused people 1 Like
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Re: Treasury Bills In Nigeria by stevemims(m): 11:34pm On Feb 26, 2021 |
Most times I just wonder where people get this idea of the 'West/Developed economies' having a clean system. Aside from the new generational online banks like N26, most traditional banks charge p.a on a regular savings account which is even different from other charges they deduct whenever you use a token or text message verification for online transactions. It's a capitalist world people, even the known socialist/welfare regimes still take a cue from how capitalism is reordering the world. As long as you are not a corrupt politician, arms dealer, bandit, terrorist etc., I don't think there is a crime in positioning yourself with shares, loans with low-interest rates, good bonds and legit opportunities in this ever-changing world. 4 Likes |
Re: Treasury Bills In Nigeria by demelza: 12:19am On Feb 27, 2021 |
^^ It was in the West I discovered that banking is a privilege. These banks charge you money to save with them. Not like in Nigeria where banks give you interest, no matter how meagre. Imagine behemoths like JPMorgan Chase or Wells Fargo fighting to retain business of ordinary citizens. When it is known that over 50% of Americans have less than $1000 as savings as at July 2020. So how do these banks make their billion dollars profits then? Some of them don't even pretend to have your time. If you don't have a minimum amount you can never cross their threshold. Capitalism originated from these people. Nigerian banks are still learners; they have not graduated at all. But yeah, let's keep looking at everything from the West with rose-colored glasses. 7 Likes |
Re: Treasury Bills In Nigeria by stevemims(m): 12:48am On Feb 27, 2021 |
My brother/sister, the ideas/thoughts I read on here sometimes can't be unread. Nothing is free anywhere, not even in Freetown. At least in naija, these days you can opt not to have an ATM card, in the West you have to have a card, and it gets renewed automatically when expired (and of course, that's not free). In some European countries when you are not a student and you're above 30, you pay every month for owning an account with a bank. demelza: 1 Like |
Re: Treasury Bills In Nigeria by helpyom(f): 3:30am On Feb 27, 2021 |
ahiboilandgas: |
Re: Treasury Bills In Nigeria by emmanuelewumi(m): 4:19am On Feb 27, 2021 |
helpyom: A private message would have been better. 4 Likes |
Re: Treasury Bills In Nigeria by ahiboilandgas: 7:03am On Feb 27, 2021 |
Naira officially devalued to 410. |
Re: Treasury Bills In Nigeria by OgogoroFreak(m): 7:11am On Feb 27, 2021 |
ahiboilandgas:By now who don't have his money in dollar or dollar asset, is immune to high blood pressure. |
Re: Treasury Bills In Nigeria by afroxyz: 7:13am On Feb 27, 2021 |
ChybuzzDD:But the reality is in a struggling exonomy interest rates are bound to be high. Then come add naija matter join |
Re: Treasury Bills In Nigeria by ChybuzzDD(m): 7:16am On Feb 27, 2021 |
Godbpraised: The word "greedy" did not appear in my write-up, man Being "selfish" is not synonymous with being "greedy" in the context used. 2 Likes |
Re: Treasury Bills In Nigeria by ChybuzzDD(m): 7:36am On Feb 27, 2021 |
afroxyz: That then could explain why such economies continue to go further down or remain along that path of underdevelopment. Governments alone do not develop economies. Their primary role is to provide the enabling environment and the necessary regulations for businesses to thrive. Individuals(entrepreneurs and businessmen) and private/cooperate institutions play a bigger role in deciding the direction of the economy. And in most cases, they need credit facilities from the banks/financial institutions. In a country like Nigeria, where the interest rates are ridiculously high, we all can see the effects today. Just compare the number of private companies registered on the floor of NSE with that of the NYSE. The difference is very clear. 1 Like |
Re: Treasury Bills In Nigeria by freeman67: 7:40am On Feb 27, 2021 |
chigo4u: I don't think there is any. Though I have not gone round all the banks. Most banks I have interacted with treat dorm account as current account. Current account s do not pay interest instead you are charged for COT after transaction. |
Re: Treasury Bills In Nigeria by helpyom(f): 8:00am On Feb 27, 2021 |
emmanuelewumi: |
Re: Treasury Bills In Nigeria by emmanuelewumi(m): 8:20am On Feb 27, 2021 |
afroxyz: And also consider the inflation rate. |
Re: Treasury Bills In Nigeria by emmanuelewumi(m): 8:22am On Feb 27, 2021 |
OgogoroFreak: How, please explain |
Re: Treasury Bills In Nigeria by dejiotus: 8:32am On Feb 27, 2021 |
Union bank's UNIONACE USD DOMICILIARY ACCOUNT pays about 2 to 3 percent per annum interest freeman67: 2 Likes 1 Share |
Re: Treasury Bills In Nigeria by dejiotus: 8:49am On Feb 27, 2021 |
chigo4u: Union bank's UNIONACE USD DOMICILIARY ACCOUNT pays about 2 to 3 percent per annum interest. But there is a charge for the bank card. 2 Likes |
Re: Treasury Bills In Nigeria by afroxyz: 9:10am On Feb 27, 2021 |
ChybuzzDD: Your point is very valid. But its like choosing between the devil and the deep blue sea. Investors and lenders have to be compensated for the risk of lending you money, hence the high interest rates. Interest rate reflects investors confidence in the borrower. The lower the confidence in you replying back, the higher the interest rate. 1 Like 1 Share |
Re: Treasury Bills In Nigeria by jedisco(m): 12:23pm On Feb 27, 2021 |
ahiboilandgas: With continued devaluation comes inflation... Do you think it's possible to have a stable naira with dual exchange rates? To me, it looks like trying to fill a basket with water 1 Like |
Re: Treasury Bills In Nigeria by Nobody: 12:24pm On Feb 27, 2021 |
ahiboilandgas:when did this happen.Any link pls |
Re: Treasury Bills In Nigeria by OgogoroFreak(m): 1:56pm On Feb 27, 2021 |
emmanuelewumi:I already did. Here https://www.nairaland.com/878880/treasury-bills-nigeria/1736#97886734 |
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