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  #21 (permalink)  
Old 2nd August 2014, 04:59 AM
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Default Re: Nigerian Treasury Bills

CBN to sell N195 billion in T-bills | BusinessDay
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  #22 (permalink)  
Old 4th August 2014, 05:02 PM
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Default Re: Nigerian Treasury Bills

Quote:
Originally Posted by Dexter77 View Post
Investment One Financial Services

You could go there yourself or send an email to helen.alilu@investment-one.com


Please note that stockbroking firms are not sources to procure Treasury bills. Only Banks and discount houses can do so.

You also have to be careful cos most of theses guys will sell to you on d secondary market at reduced rate so i suggest you go to a bank (GTB, Fistbank and Probably Diamond bank) to buy on the primary market.
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  #23 (permalink)  
Old 4th August 2014, 05:11 PM
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Default Re: Nigerian Treasury Bills

Quote:
Originally Posted by dotunk View Post
Please note that stockbroking firms are not sources to procure Treasury bills. Only Banks and discount houses can do so.

You also have to be careful cos most of theses guys will sell to you on d secondary market at reduced rate so i suggest you go to a bank (GTB, Fistbank and Probably Diamond bank) to buy on the primary market.
The information I supplied is first hand oga. Investment One Financial Services deals directly in the primary market.

On the other hand, your response is kinda belated since the requestor would have taken action based on my alledged wrong information and fallen into a quagmire.
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  #24 (permalink)  
Old 17th August 2014, 12:17 AM
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Default Re: Nigerian Treasury Bills

Yields on T-bills seen rising next week | BusinessDay
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  #25 (permalink)  
Old 25th May 2015, 11:20 AM
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Default Re: Nigerian Treasury Bills

Last Auction results

http://www.dmo.gov.ng/oci/News/docs/...20,%202015.pdf

Rates coming down from the recent peak of 2015 Q1.
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  #26 (permalink)  
Old 6th March 2017, 07:05 AM
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Default Re: Nigerian Treasury Bills

From Debt Management Office

Dear Investor,
This is to bring to your notice that the Debt Management Office (DMO), on behalf of the Federal Government of Nigeria (FGN), wishes to introduce a retail savings product that will be accessible to all income groups Known as the Federal Government of Nigeria Savings Bond (FGNSB).
1. Commencement Date
• Offer will be opened on Monday, March 13, 2017 and will run for 5 days.
2. Purpose
• To deepen the national savings culture
• To provide opportunity to all citizens irrespective of income level to contribute to national Development
• To enable all citizens participate and benefit from the favourable returns available in the Capital Market
• To diversify funding sources for the government
3. Benefits
• Interest income is paid quarterly directly into the bond holders account
• The bond is acceptable as collateral for loans by banks and can be sold for cash in the secondary market before maturity
• Good for savings towards retirement, marriage, school fees, house projects, etc.
• Safety: backed by the full faith and credit of the Federal Government of Nigeria
4. Features
• The product will be issued monthly in tenors of 2 and 3 years, with quarterly payment of interest to investors
• The product will be offered to the investing public through offer for subscription at an interest rate to be announced by the DMO
• The offer for subscription will be open for 5 days from the date of announcement.
• Minimum subscription amount is NGN5,000 with additions in multiples of NGN1,000, subject to a maximum of NGN50,000,000
• The bond is backed by the full faith and credit of the Federal Government of Nigeria.

5. Subscription Mode
• Investors are to subscribe through stockbroking firms trading on the floor of the Nigerian Stock Exchange (NSE) and accredited by the DMO to act as distribution agents (visit www.dmo.gov.ng for the list of accredited stockbroking firms).

6. New Market Structure
In view of this addition to the FGN securities market, the new market structure for the FGN securities market will be as follows:
ุ FGN Savings Bonds – minimum subscription N5,000, maximum N50,000,000
ุ Nigerian Treasury Bills – minimum subscription N50,001,000
ุ FGN Bonds – minimum subscription N50,001,000.
Please note that the new market structure takes effect from March 6, 2017.



Kind Regards.
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  #27 (permalink)  
Old 6th March 2017, 10:16 AM
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Default Re: Nigerian Treasury Bills

Quote:
Originally Posted by Getthere View Post
From Debt Management Office

Dear Investor,
This is to bring to your notice that the Debt Management Office (DMO), on behalf of the Federal Government of Nigeria (FGN), wishes to introduce a retail savings product that will be accessible to all income groups Known as the Federal Government of Nigeria Savings Bond (FGNSB).
1. Commencement Date
• Offer will be opened on Monday, March 13, 2017 and will run for 5 days.
2. Purpose
• To deepen the national savings culture
• To provide opportunity to all citizens irrespective of income level to contribute to national Development
• To enable all citizens participate and benefit from the favourable returns available in the Capital Market
• To diversify funding sources for the government
3. Benefits
• Interest income is paid quarterly directly into the bond holders account
• The bond is acceptable as collateral for loans by banks and can be sold for cash in the secondary market before maturity
• Good for savings towards retirement, marriage, school fees, house projects, etc.
• Safety: backed by the full faith and credit of the Federal Government of Nigeria
4. Features
• The product will be issued monthly in tenors of 2 and 3 years, with quarterly payment of interest to investors
• The product will be offered to the investing public through offer for subscription at an interest rate to be announced by the DMO
• The offer for subscription will be open for 5 days from the date of announcement.
• Minimum subscription amount is NGN5,000 with additions in multiples of NGN1,000, subject to a maximum of NGN50,000,000
• The bond is backed by the full faith and credit of the Federal Government of Nigeria.

5. Subscription Mode
• Investors are to subscribe through stockbroking firms trading on the floor of the Nigerian Stock Exchange (NSE) and accredited by the DMO to act as distribution agents (visit www.dmo.gov.ng for the list of accredited stockbroking firms).

6. New Market Structure
In view of this addition to the FGN securities market, the new market structure for the FGN securities market will be as follows:
ุ FGN Savings Bonds – minimum subscription N5,000, maximum N50,000,000
ุ Nigerian Treasury Bills – minimum subscription N50,001,000
ุ FGN Bonds – minimum subscription N50,001,000.
Please note that the new market structure takes effect from March 6, 2017.



Kind Regards.
We really need to see what rates are going to be. Anything below 20% is a joke
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  #28 (permalink)  
Old 9th March 2017, 09:22 AM
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Default Re: Nigerian Treasury Bills

Quote:
Originally Posted by nosa2 View Post
We really need to see what rates are going to be. Anything below 20% is a joke
The way this thing dey pain me no get part 2...
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  #29 (permalink)  
Old 9th March 2017, 09:54 AM
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Default Re: Nigerian Treasury Bills

Quote:
Originally Posted by netotse View Post
The way this thing dey pain me no get part 2...
Why the thing dey pain you?. Have you talked to your bank?.

Come to think of it, prior to this new rule, were individuals actually bidding straight to CBN/DMO or were they passing through the banks to bid?. Prior to this, was the NTB certificate issued by CBN/DMO to an individual or were the individuals advised by their banks?
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  #30 (permalink)  
Old 9th March 2017, 12:51 PM
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Default Re: Nigerian Treasury Bills

Quote:
Originally Posted by migiets View Post
Why the thing dey pain you?. Have you talked to your bank?.

Come to think of it, prior to this new rule, were individuals actually bidding straight to CBN/DMO or were they passing through the banks to bid?. Prior to this, was the NTB certificate issued by CBN/DMO to an individual or were the individuals advised by their banks?
The ONLY difference is that henceforth one MUST go with the bank rate except you are stalking 50m and some of theirs rates are ridiculous.

For instance the last year November I place a bid of 19% discount rate on 364days tenor TREASURY BILL via fidelity Bank.

Twice it wasnt successful so on the 3rd occasion I reduced it to 18.65% and it sailed but now I won't have such opportunity except I stalking 50million.
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  #31 (permalink)  
Old 9th March 2017, 02:17 PM
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Default Re: Nigerian Treasury Bills

Quote:
Originally Posted by PETERICHY View Post
The ONLY difference is that henceforth one MUST go with the bank rate except you are stalking 50m and some of theirs rates are ridiculous.

For instance the last year November I place a bid of 19% discount rate on 364days tenor TREASURY BILL via fidelity Bank.

Twice it wasnt successful so on the 3rd occasion I reduced it to 18.65% and it sailed but now I won't have such opportunity except I stalking 50million.
This is not bank rate but your rate. Most people go with bank rate in order ro improve their chances. The banks doing the bidding has more information than you.

I did on March 1, 2017 using bank rate with my bank for 182 days. CBN stop rate for 182 days was 17.2%. My bank gave me 17.14%. 17.14% is fine by me. A difference (loss) loss of 0.06 to me is negligible. You know say na tasere money i fit do since my Security Guard minimum wage salary no much. That 0.06% difference on my minimum wage of 18k for 182 days tenor na around 5 Naira. Na because of N5 i wan begin cry?.
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  #32 (permalink)  
Old 16th March 2017, 11:06 AM
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Default Re: Nigerian Treasury Bills

Treasury Bills Stop rates for 15th March 2017

91 days ----13.6%

182 days -----17.2%

364 days-------18.558%
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  #33 (permalink)  
Old 16th March 2017, 12:06 PM
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Default Re: Nigerian Treasury Bills

Quote:
Originally Posted by migiets View Post
Treasury Bills Stop rates for 15th March 2017

91 days ----13.6%

182 days -----17.2%

364 days-------18.558%
hmmm Those with less than 50mill were they able to get at this rate?
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  #34 (permalink)  
Old 16th March 2017, 12:33 PM
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Default Re: Nigerian Treasury Bills

Quote:
Originally Posted by migiets View Post
Treasury Bills Stop rates for 15th March 2017

91 days ----13.6%

182 days -----17.2%

364 days-------18.558%
Meanwhile the 92 day bill closed at 16.18% yesterday on FMDQ. There goes the future direction of TBills
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  #35 (permalink)  
Old 16th March 2017, 12:44 PM
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Default Re: Nigerian Treasury Bills

Quote:
Originally Posted by Getthere View Post
hmmm Those with less than 50mill were they able to get at this rate?
No. I doubt any of them expected to get it at this rate. They got it at something close. If a 91-day stop rate of CBN is 13.6% and you got 13.08% for 500k for 91-day for instance, will you not be happy?. Mind you, this your 500k on FGNSB for 2 years will only give you 13.01. In addition, FGNSB is not discounted while NTB is discounted.
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  #36 (permalink)  
Old 16th March 2017, 03:51 PM
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Default Re: Nigerian Treasury Bills

Quote:
Originally Posted by migiets View Post
No. I doubt any of them expected to get it at this rate. They got it at something close. If a 91-day stop rate of CBN is 13.6% and you got 13.08% for 500k for 91-day for instance, will you not be happy?. Mind you, this your 500k on FGNSB for 2 years will only give you 13.01. In addition, FGNSB is not discounted while NTB is discounted.

I will be happy oo....

I think what is not being said about the FGNSB is that, you are only guaranteed your initial capital if you hold for the 2 year duration.
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  #37 (permalink)  
Old 16th March 2017, 04:43 PM
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Default Re: Nigerian Treasury Bills

Quote:
Originally Posted by Getthere View Post
I will be happy oo....

I think what is not being said about the FGNSB is that, you are only guaranteed your initial capital if you hold for the 2 year duration.
You mean you will be charged a penalty if you did not hold to maturity?. If it is going to be traded, does it not mean that i can decide not to hold to maturity by selling?. If such happens, what happens to the third party that bought off me?.
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  #38 (permalink)  
Old 16th March 2017, 04:49 PM
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Default Re: Nigerian Treasury Bills

Quote:
Originally Posted by migiets View Post
Treasury Bills Stop rates for 15th March 2017

91 days ----13.6%

182 days -----17.2%

364 days-------18.558%
I think this is a CBN AUCTION not the normal DMO NTB Auction. Individuals and companies cannot directly bid for this

http://af.reuters.com/article/nigeriaNews/idAFL5N1GT4GK
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  #39 (permalink)  
Old 16th March 2017, 04:55 PM
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Default Re: Nigerian Treasury Bills

Quote:
Originally Posted by Waves View Post
I think this is a CBN AUCTION not the normal DMO NTB Auction. Individuals and companies cannot directly bid for this

Nigeria sells more treasury bills than planned - central bank | News by Country | Reuters
Shuoo. Are there two bodies that manage Treasury Bills in Nigeria?. What is the difference between CBN NTB and DMO NTB?.
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  #40 (permalink)  
Old 16th March 2017, 07:20 PM
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Default Re: Nigerian Treasury Bills

Quote:
Originally Posted by migiets View Post
Shuoo. Are there two bodies that manage Treasury Bills in Nigeria?. What is the difference between CBN NTB and DMO NTB?.
Apart from DMO, CBN also sells bills mainly to banks for liquidity management operations. These are called the Special Open Market Operation (OMO) bills and ideally only Banks are allowed to participate. Usually, the bills have to be held to maturity and are not traded. Such CBN auctions don't generally have a timetable (but usually occur on Tuesdays and Thursdays) and usually dictated by the level of liquidity in the system. Usually, a lot is issued around FAAC releases. Typically, CBN offers rates more than DMO. Many people who think they are buying TBill through banks are usually buying this instrument with the bank giving the customer lower rate than the got and enjoying the spread. NTBs that are traded on FMDQ are DMO bills usually sold on its behalf by CBN.

Hope this helps
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Last edited by Waves; 16th March 2017 at 08:20 PM.
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