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Nairaland Forum / Nairaland / General / Investment / Treasury Bills In Nigeria (4596898 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 SeaTrade(m): 8:50am On Mar 02, 2021 |
ahiboilandgas:I don't blame the smugglers,I blame the government. Look,where there are huge price differences and incentive,there tend to be smuggling. You know the funny thing?You can't fight smugglers with forces(police,customs,etc...) especially in a poor and corrupt country like Nigeria where almost everyone is hungry and smugglers have enough money to throw around and tip everyone. Why are they smuggling Cars?Because your seaport taxes is expensive . You can only fight smugglers by making whatever they are trying to smuggle unprofitable and uneconomjcal,not wasting money with customs because bros the least money don pass that goods ooo. 6 Likes |
Re: Treasury Bills In Nigeria by SeaTrade(m): 8:53am On Mar 02, 2021 |
ahiboilandgas:Smugglers don't even need dollars cash sec these days. What some guys in the US do is to buy all the dollars Nigerians in America are trying to send home,wire for smugglers to china or wherever they want and collect their naira In Nigeria. But I'm sure that business will soon die with the new CBN policy of withdrawing repatriated funds in dollars,as no one will want to give them again rather pass through bank. 3 Likes |
Re: Treasury Bills In Nigeria by ahiboilandgas: 8:54am On Mar 02, 2021 |
SeaTrade:true the Soviet style of enforcement using security men up and down alway fail but with a sound economic policy and zero incentive no body go smuggle any thing....like after removing subsides of deseal ...smugling ended ...instead Niger business men started exporting to Nigeria ( lower grade).. 1 Like |
Re: Treasury Bills In Nigeria by SeaTrade(m): 8:57am On Mar 02, 2021 |
ahiboilandgas:Diesel comes from Niger to Nigeria? Oh I see,maybe cos of many trucks that are in the north creating a huge demand for it. But where do Niger get the diesel from? |
Re: Treasury Bills In Nigeria by afroxyz: 9:00am On Mar 02, 2021 |
SeaTrade: This guy eh |
Re: Treasury Bills In Nigeria by skydiver01: 9:06am On Mar 02, 2021 |
Re: Treasury Bills In Nigeria by SeaTrade(m): 9:10am On Mar 02, 2021 |
afroxyz:lol na lie? ![]() |
Re: Treasury Bills In Nigeria by afroxyz: 9:12am On Mar 02, 2021 |
SeaTrade: Na why i dey hail u |
Re: Treasury Bills In Nigeria by ahiboilandgas: 9:14am On Mar 02, 2021 |
SeaTrade:yes from their soraz refinery in zinder it 400km to kano and less than 150km to Katsina ....i have bought several time they even established a trading office in Nigeria .....the problem is the density is low the Nigeria quality is better ..if u have to use it u consume more example we give driver 1300 litres from Lagos to kano return if na Niger republic deseal we give 1400 to 1500 ......the refinery is a 40000 barrel daily capacity they use 20000 barrel and planing to export 20000 barrel via chad /Cameroun export pipelines ....chad have completed the sections of the export pipe it remain Niger using Chinese loan ...NB there is 1 bn barrel of crude oil in chad/lake chad basin .....snipec China is on it.... 1 Like |
Re: Treasury Bills In Nigeria by SeaTrade(m): 9:14am On Mar 02, 2021 |
afroxyz:Lol streets no funny. ![]() |
Re: Treasury Bills In Nigeria by ahiboilandgas: 9:18am On Mar 02, 2021 |
afroxyz:no be lie it been on for long na but when there restriction...it been done for over 50 years in kano wapa markets ....if u wan buy tokubu car in benin republic u pay naira to a bdc in kano and collect ce fa to cotonu...as a determine rate ...like wise a benin citizen that want to come to Nigeria pay ce fa and collect naira from bdc...this was the BUSINESS b4 soludu licensed them and start funding |
Re: Treasury Bills In Nigeria by SeaTrade(m): 9:21am On Mar 02, 2021 |
ahiboilandgas:Where is Niger getting the crude it is refining and even wanting to export from? 1 Like |
Re: Treasury Bills In Nigeria by ahiboilandgas: 9:21am On Mar 02, 2021 |
(Reuters) - Niger has reached an agreement with Chad to ship crude oil from its Agadem field for export through the Chad-Cameroon pipeline, Niger's foreign minister said on late on Wednesday. |
Re: Treasury Bills In Nigeria by ahiboilandgas: 9:23am On Mar 02, 2021 |
SeaTrade:Niger has a long history of petroleum exploration dating back to the 1970s. However, it is only recently in 2011 that the petroleum industry of Niger was born with the opening of the Agadem oilfield and the Soraz refinery near Zinder. The oil and gas extracted from the Agadem field are processed at the Soraz refinery and products (gasoline, diesel and liquified natural gas) are primarily for domestic consumption. Since the beginning of the oil extraction, it appears that the reserves have been underestimated: from an estimate of 324 million barrel reserves in 2008, it is believed that reserves are three times higher, near 1 billion barrels in 2013.[1] With the increase in reserves, Niger anticipates an increase in its production from 20,000 to 80,000 barrels per day by 2016 with 60,000 barrels per day for exports via Chad and Cameroon. |
Re: Treasury Bills In Nigeria by ahiboilandgas: 9:27am On Mar 02, 2021 |
In 2012 Niger signed an agreement with neighbouring Chad to construct a 600 km (373 miles) pipeline linking it to the Chad-Cameroon pipeline, which will enable Niger to export crude. The MoU followed the inauguration of Niger's Soraz refinery, a US$5 billion joint venture with China National Petroleum Corporation (CNPC) near Zinder. The 20,000 barrel-per-day capacity refinery, 60 percent-owned by CNPC and 40 percent by Niger, is fed entirely by oil from the Agadem oilfield a further 700 km east. The two ministers gave no indication of when the construction of the pipeline will begin, nor its cost.[2] In 2016 the IMF reported that construction may begin in 2017, and be completed by 2019.[3] As of February 2017, the pipeline construction has been put on hold by CNPC and the government of Niger due to the rapid fall in commodity prices, making the project unprofitable under current conditions. As of now, the pipeline's completion has been delayed until 2020 while alternatives are being considered.[4] |
Re: Treasury Bills In Nigeria by ahiboilandgas: 9:34am On Mar 02, 2021 |
Chad ranks as the tenth-largest oil reserve holder among African countries, with 1.5 billion barrels of proven reserves as of 2018 and production of over 140,000 barrels per day in 2020. Petroleum is Chad’s primary source of public revenue, and around 90 percent of oil production is exported. Chad’s oil production is dominated by the China National Petroleum Company in Chad (CNPCIC), the ExxonMobil-led Esso Exploration & Production Chad Inc. (EEPCI) consortium, Glencore, and Taiwanese Chinese Petroleum Corp (operating as OPIC). Other oil companies are exploring new blocs. EEPCI inaugurated Chadian oil production in 2003 and owns a controlling stake in the 1,100 km Chad-Cameroon pipeline through which all Chadian oil exports reach the port of Douala, Cameroon. A joint venture between CNPCIC and the Government of Chad’s state-owned oil company, Societé des Hydrocarbures du Tchad (SHT), refines petroleum for export and domestic consumption at a 20,000 barrel-per-day refinery 40 km outside N’Djamena. Chad’s natural gas sector is nascent. Stranded gas is flared. Oil 2017 2018 2019 2020 (Q1) Total Production 113,710 128,493 140,000 149,231 Total Exports 99,306 109,863 129,589 133,846 Total Imports N/A N/A N/A N/A Total Market Size 14,404 18,630 10,411 15,385 the new oil wells discovered in kukawa maiduguri will be connected to the Exxon chad /Cameroun export line which is 200km from the oil well located in Nigeria... 1 Like |
Re: Treasury Bills In Nigeria by DigitalMallam: 11:23am On Mar 02, 2021 |
emmanuelewumi:Pls I need advise. I want to convert part of my Fixed Deposit Fund (Naira) to EuroBond ($). I spoke to my broker and they gave me conversion rate of 498 to move the fund from Naira fixed income to $ Eurobond. I had requested same last year I got 483 then, I said it was too high but it's seem Nigeria isn't getting better any time soon. Should I still wait or can proceed. Cc: any other interested person 1 Like |
Re: Treasury Bills In Nigeria by seyisanya(m): 11:47am On Mar 02, 2021 |
DigitalMallam:If the embolden is how you feel at the moment, then go ahead with your plan. However, N498 is quite high except the volume is not substantial. I will advise you liquidate the Naira Fund and then buy your dollars from any of EVERDON BDC or SEBASTIAN BDC. They should be able to sell to you between the range of N480 and N483. If you are in Lagos, you can visit their office to complete the transaction. I wish you the best! |
Re: Treasury Bills In Nigeria by cmoney22222: 4:12pm On Mar 02, 2021 |
Re: Treasury Bills In Nigeria by chigo4u: 8:47pm On Mar 02, 2021 |
DigitalMallam:What Eurobond fund is this? |
Re: Treasury Bills In Nigeria by tolajay: 12:15am On Mar 03, 2021 |
2 Likes |
Re: Treasury Bills In Nigeria by Tobex4realTobex234(m): 9:18am On Mar 03, 2021 |
seyisanya: Excellent advice. I still bought from Everdon in the range of 470s last month sef. Just do their KYC and you're good to go. It is never too late to change to dollars. Once you make up your mind about how many percentage of your portfolio should be in USD, you won't need to ask this kind of question. I don't know enough details about the peculiarities of your situation, but at the very least try to do 60:40 (USD:NGN). 1 Like 1 Share |
Re: Treasury Bills In Nigeria by ojesymsym: 9:42am On Mar 03, 2021 |
Do you leave your USD to seat in the bank or you have where you invest it in? If yes, which instrument and what is the minimum investment and procedure? Tobex4realTobex234: 1 Like |
Re: Treasury Bills In Nigeria by ojesymsym: 9:45am On Mar 03, 2021 |
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Re: Treasury Bills In Nigeria by Tobex4realTobex234(m): 12:22pm On Mar 03, 2021 |
Please note that this is not a recommendation. You can adjust your ratio based on your investment knowledge, your risk potential and your long term horizon. 4 Likes |
Re: Treasury Bills In Nigeria by freeman67: 2:08pm On Mar 03, 2021 |
seyisanya: While thinking of liquidating and buying dollar from Bureau de Change, he should also be thinking of how to invest it back to his desired Euro Bond because that is where the difficulty lies. Last week, I tried to deposit dollar to an investment account. The teller asked If the account was mine and told that it wasn't. He then told me to ask the owner of the account to come and deposit himself. I just left without further enquiries. The next day I was at another branch of FCMB for same purpose. I enquired and was told to fill their registerand fill the teller for it. After several attempts to post, I was told that cash deposits are not allowed into that account. I can only make transfers to the account. That's where another problem lies. From what I gathered personally, Banks these days are not accepting transfer from a Nigerian bank dorm account to another especially when it was cash deposited. A dollar cash deposit made can only be withdrawn before usage as it is only dollars received through transfers that could be also be transferred to another account. So everything seem complicated.. So, if he is convinced that his fixed deposits should be converted to Eurobond the easiest and less complicated way to do it is to go with his broker especially if he is sure of getting dollars back when his investment matures... Of course that comes with a cost... Transfers in banks are not free too. So he will have to weigh his option and choose what suits him best... 4 Likes |
Re: Treasury Bills In Nigeria by condomuser: 4:39pm On Mar 03, 2021 |
That's true, banks doesn't allow Eurobond Investment via cash deposit, they said it has to be inflow into your account, quite a useless policy as Cash is always king. Also, even when you have the inflow, transfering to their own designated Dom account attracts a charge. Someone who has cash deposit into Dom account can't invest in Eurobonds from the look of things as you need to either withdraw the cash and find someone to make a transfer of the equivalent for a fee and pay with the USD cash you withdraw. Another thing is selling funds via inflow transfer is a bit difficult and upon maturity of the Eurobond, if the banks have enough dollar by then, you can only transfer the funds to someone who has a Dom account or they will offer you to exchange it to them for Naira at ridiculous rate. It may just be best to leave your dollar in your Dom ACC, that way if EUROBOND default nothing concern you. freeman67: |
Re: Treasury Bills In Nigeria by oludy: 6:11pm On Mar 03, 2021 |
My question: Will BDCs do a transfer to my DOM account if I wanted to convert naira to fx? Won't they need some form of documentation to ensure they are in line with CBN's policy? |
Re: Treasury Bills In Nigeria by ositadima1(m): 6:56pm On Mar 03, 2021 |
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Re: Treasury Bills In Nigeria by emmasoft(m): 7:02pm On Mar 03, 2021 |
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Re: Treasury Bills In Nigeria by Opzyyy: 9:21pm On Mar 03, 2021 |
emmanuelewumi:please is the 6% paid quarterly i.e 24% per annum or it's 6% per annum i.e 1.5% quarterly? |
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