NewStats: 3,263,828 , 8,181,530 topics. Date: Sunday, 08 June 2025 at 07:13 AM 3s2i1n

If the convicts decide to drag their appeals up to Supreme Court, they may still be around in the next ten years.
Nigerian judicial system

TippyTop:
Imagine Buhari had ed his exams he would have psc after his name.

ing out of NDA doesn't give you PSC. You only get commissioned as an officer.

To get PSC, you go to command and staff college which is a middle-officer's course

Paramount01:
Is it that you can't fix your interest rate or treasure bills as been cancel i

The post by iamoasa just above your own post explains it all

zamirikpo:


the annoying thing is that the bankers at the branch level dont even know jack, i was trying to find out if they know of the new FGNSB and the rates it was like i was speaking greek.

While bankers are expected to generally know something about money market, please note that banks are not brokers for FGN savings bonds.
You can only bid for the new FGNSB through some DMO-accredited stockbrokers not banks.

iwadobo:
He is a conceiteous buffoon. He thought he owns Nigeria . The senators ,by virtue of the fact that they are representing Nigerians, are his employers. He either obeyed his employers or get out. Nigeria is not his personal property, the senators calling him are elected officials representing all Nigerians, if the dude can't obey Nigerians, let him take a walk. Can an Ibo man try this ? Are some nigerians more Nigerians than others ? He should go.

Diezzani Madueke that ignored the reps' summons till the end of her tenure, what happened to her?

Speedyconnect7:
please whats the essence or importance of true yield if all you will get is 18280. Does the true yield change anything?

feelamong

The true yield is your true returns on your investment not the discount/stop rate.

In the example you quoted, the 18.28% is on the face value of N100,000 but you didn't invest N100,000 but just N81,720 because that is what is debited to your . The interest of N18,280 is actually received on an investment of N81,720 which gives a return of around 22.3%

Unlike fixed deposits that you receive your interest at the end of the tenor in which case, the actual and true yield are the same.

Another way to derive the true yield on treasury bills is that since you receive the interest upfront, that interest is immediately available for another investment e.g in the example above, if you reinvest the Upfront interest of N18,280 on the same tenor at 18.28%, you will earn additional N3,341. So your total interest will be 18,280+3341=N21,621. If you also reinvest the upfront interest of N3,341 @ 18.28%, you get additional N610 bringing your total interest to N22,221 all on investments totalling N100,000 running concurrently. That is 22.22% true yield.

Today's (1/3/2017) treasury bills primary auction by the CBN is very significant. This is the last TBs auction that will be opened to small players

Effective from next Monday 6/3/17, minimum TBs subscription is N50m as opposed to the present minimum of just N10,000.

I gleaned this from the ment placed in the dailies yesterday by the Debt Management Office which announced changes in market structure and introduced "FGN Savings Bond" for small players.

FGN savings bond is a two to three years tenor bond and interest is payable quarterly. The minimum subscription is just N5,000 while maximum is N50m. It will be issued monthly at interest rates to be announced by the DMO. There is no upfront interest/discount. The primary market will open for 5 days each month but since it is a marketable instrument, secondary market is available every time.

This appears to have effectively limited 'poor people' to only bank term deposits as a means of short term investment.

See details in attached picture.


@lalasticalala

jumboo:


You should have submitted your bid today. Tomorrow may be possible but not all banks will accept it. Best time is Monday preceding the Thursday of the auction.

There's an excel calculator I use for the calculation of the interest and yields. You can find it at the bottom of the post here: http://www.iwilltalk.com/investing-in-treasury-bills-in-nigeria/

All the best

Wednesday is the day for auctions every two weeks but successful bids amounts are debited by Thursday.
Unless you are related to the head of treasury, banks will not easily accept customers' bidding on Wednesday because they have to bid online by 11 a.m same day.

mediocre:
lmao. how efe come take get 16 .

Based on logistics

Strictly speaking, apart from Mamman Daura who has no clear-cut official position, all others mentioned in the report are performing their official duties well.

In USA, the chief of staff is the clearing house for the presidency and Perhaps the closest aide to the president.

Since the time of Andy Uba in Obj presidency, the holders of the office of SSA Domestic affairs have always been powerful.

Derawiz:
Keep on lying, I know you are.

Buhari told you to greet his family, I guess he can't their number to dial them seeing as he can't even the name of his vice-president

You misinterpreted the report. Read it again.

The article says they spied on Reuters news agency in Nigeria, not Nigerian media.

Why would they waste their precious time and resources spying on Nigerian media when Nigerian officials are ready to sing like canary directly to any foreign agency at the snap of fingers?

KanwuliaExtra:
Nor be dream o.

NIGERIA has finally been HIJACKED.
This wan military coup I swear.


A letter typed with hand-written "insertions"?

@bitcoininvesto also.

That is how letters from the State House are normally dated. It is the dating in the vice-president's own that is unusual.

Check any previous correspondence from any former president.

awesomeJ:

primarily, the advantage money market investment has over treasury bills is the flexibility in redeeming your investment. For most MMF, you can redeem after the initial 30 days without incurring any penalty. You can even withdraw earlier albeit with a little penalty.
Aside this flexibility in withdrawals, the rates for funds like StanbicIBTC MMF compares with tbill rates as follows:
At about 17% currently, It
-beats 91-day NTB
-is almost at par with 182-day NTB(could be better off if your bank is funny)
- below 364-day NTB, by offering about 1,500 less in returns for every 100,000 invested.
The best thing is having a portfolio containing a mix of these investments, so you can leverage on the pros of each of them.

Is the interest on MMF upfront or back-end? That will affect the true yield.

Is the interest tax free like on NTB? If not, you will first forfeit 10% straight away as withholding tax followed by real income tax which can be debilitating if you are already in high income bracket from your other sources of income or it can push you into high income bracket

vivypretty:
as u don investigate come n take this award for the best Investigator without pay is she not the one that said she was a single mum?

Bisola said that.

The housemates may regard Debbie as a fake housemate who will leave within a week

1bkaye:
Ebuka is speaking to the housemates now. Ebuka asks Gifty who she like between Miyonse and Soma so we can know who to focus on. Gusty says she's loving everybody but pronounces it as 'every brother', everyone laughs.

Ebuka asks Soma how he is, conversation is short.

Ebuka asks TTT about the crying session and asks him how much of a strategy his crying was, TTT says it wasn't a strategy.

Ebuka apologises to Bisola for friday (don't know what he's talking about) and mentions the party on friday.

Ebuka asks Efe who he was talking about on friday, Efe says he was just having a general 'yarn' and speaking his mind.

TBoss is asked about her boo situation, she asks about Gufty being a third party, TBoss says she dumped Miyonse, Ebuka asks when because he just massaged her leg right now.

Marvis is asked about Uriel putting her up for eviction, she says she's indifferent and ok.

Bally is asked about his week in the house, Ebuka talks about his calmness, Bally says he is a calm guy.

Ebuka wishes them the best and asks the nominated housemates to stand.

@ bolded He was referring to the injury that Bisola sustained during the arena game on Friday

Osyabj:
Most of these posters know nothing about d US. Trump CANNOT singlehandedly stop abortion in d US. Roe V Wade is carved in stone in d US law and it requires d US Supreme Court to overturn it.

All these men in Nigeria trying to tell a woman what to do with her body are stone age men.

Trump d sexist, racist bigot will never stop abortion in the US.

Dont mind the ignorant people making comments here.

First, the thing is not a law but a presidential policy referred to as Mexican city policy

Secondly, since it was introduced by Reagan in 1985, democrats presidents had always repealed it while the republican presidents had traditionally re-instate it. Thus it was repealed by Clinton in 1993, bush reinstated it in 2001, obama repealed it in 2009 and trump has now reinstated it.

US laws have always and still ban direct funding of abortion even during the time that the Mexican-city policy was repealed. The effect of the policy is that international NGOs that have abortion as part of its activities cannot access funding by USAID even for their other activities but during the tenure of democrats when the policy was suspended, such NGOs could access government funding but must only be used for non-abortion activities.

The details results as released by cbn

91 days
Range bid = 13 - 18.59%
Successful range = 13 - 13.8999%
Spot rate = 13.8999%
True yield = 14.3989%


182 days
Range bid = 13.5 - 19.22%
Successful range = 13.5 - 17.25%
Spot rate = 17.25%
True yield = 18.8734%

364 days
Range bid = 17 - 22%
Successful range = 17 - 18.6499%
Spot rate = 18.6499%
True yield = 22.911%

While the cbn offered exact amounts that it d for 91 and 182 days, it offered extra N73bn for the 364 days above the d amount of N120bn

samkay12:
Any one here bid with Stanbic Bank this week?
Those guys are bordering on buffonery these days.
They forced me to go with the bank rate and it looks like what they bid this week is more than what feelamong posted

I bid for 364 days and 182 days at their rates. They have debited my for the 364 days this evening which means they succeeded but not yet debited for 182 days. I take it that they failed on that.

Their rate based on the discounted value that I was debited is near the cbn stop rate for 364 days

PS: 20/1/17. I have now been debited for 182 days also.

kajsa08:
when there's money, u see things differently.
y won't she say we're serving d same God...
anyways nice outfit . Where I fit see am buy?

Provided free for any women tourist by the Mosque management but returnable after the tour.

The Sheikh Zayed Mosque in Abu Dhabi and Jumeirah Mosque in Dubai are tourist centres opened to everyone regardless of religion. They deploy more staff to the tourist section of the mosque than to other sections

The dress the women in those pictures are wearing is actually provided by the tourist department of the Mosque. You only need to deposit an identity card to collect the dress though returnable at the end of the tour

kevinberry:
what is usa flag doing there

That is Liberian flag not US flag.

Nnamdisblog:
President Muhammadu Buhari on Thursday, January 12th resubmitted names of non-career ambassadorial nominees to the Nigerian Senate, two months after the legislature rejected his first list.

George Oguntade, a retired Supreme Court Judge, and Olorunmimbe Mamora, former Senator, are two of the well-known figures dropped by Mr. Buhari.

Also, Adegboyega Ogunwusi, an elder brother of the Ooni of Ife, Enitan Ogunwusi, was dropped.

The governors on the platform of the All Progressives Congress had last year complained that the earlier nominees were drawn from their respective states without consultations with them.

After Senate President Bukola Saraki read the new nominees on Thursday, Abuja Senator, Phillip Aduda thanked Mr. Buhari for nominating an indigene of Abuja this time.

Mr. Aduda protested the non-inclusion of any FCT indigene when the earlier list was submitted to the Senate in October last year.

Below is the full list of the new nominees:

http://www.naijahelm.com/2017/01/full-list-of-fresh-ambassadorial.html?m=1

But George Oguntade is among those listed in the letter now. Number 29 on the list

MOBBDEEP:
Please, investment-minded folks, I have some questions gnawing on my mind for some times now which I have been repressing but I had to voice out following the unfortunate event of the supposed/purported failed bids of those who used Stanbic IBTC on the 5-1-17 TBs Offer :

* In which of those bids did Stanbic IBTC fail? Because I placed a 364-day bid which seemed to be unsuccessful too!
I went with Stanbic IBTC Rate.
Anyone with similar experience?
How about the 91-day & 182-day Tenor?

* Is there no way/platform/medium/forum for us to get intel or info on the details of transactions between Commercial Banks and CBN?

* How do we know or determine that the successful Bid Rate quoted for us by the banks is actually the true rate e.g if I'm told my bid is successful at 17.5% for 364-day Tenor and the calculations show so, how are we sure the bank didn't actually use 18.5% and are simply racketeering on the cash generated from this difference in rate which can be huge factoring in the cumulative capital base of numerous investors?

* If I specify my rate myself, what modus operandi obtains between CBN & my Financial House/Commercial Bank?
Do they bid separately for those who choose to go with their rates & those who specified their own rates?
How do they do it?

* Supposing an individual specified his/her own rate which falls in but the banks bid rate fails, what happens?
Will the individual's bid still be successful despite the bank's rate failing the bid?
What obtains in the reverse/converse scenario whereby an individual specifies bid that is above CBN offer range but the Bank's rate falls within?

* Do we have eagle-eyed bodies & institutions to protect individuals investors from the shylock banks who I have this knack & instinct for to be engaging behind closed doors in unwholesome lots of sharp practices?


Please, I'll appreciate responses Sirs & Mas

Stanbicibtc claimed that it was not successful for 182 days tenor also at the auction of 5/1/2017. I wonder if they went for that auction at all.

As for your other posers, I posed the same question(s) on page 246 of this thread. I am beginning to doubt that stanbic. The other bank that I used last auction succeeded but stanbic which I used for the major bid at their own rate said it failed. I am giving them the last chance at the next auction before I determine my relationship with them.

omolami:
The only and best option left for Jammeh is to use the military that has been in his to stage a coup and take over governance up till a certain period. Thereafter the military will conduct another election in which Jammeh will also contest. He may win thereafter..

The coup will still be subject to approval of the big brothers

The total military strength of Gambia is just 1,600 men, virtually all of them including Jammeh himself trained in or by Nigeria

that the international community accused Nigeria of collusion in the coup that brought in Jammeh in 1994 because The Gambian security was under the detachment of Nigerian military stationed in the country led by Gwadabe.

It was later alleged that it was that shame brought on Nigerian military that made Abacha to rope Gwadabbe into the coup trial of 1995 for which he was sentenced to life imprisonment.

Archbishop88:
I hope d new governing council will do d needful 2 suspend and send amendment bill 2 d senate as regard dz wahala of 20yrs.ao will someone invest so much in d temple of God n u will want him 2 resign like dat.abi she na holy spirit put am 4 una mind ni. Na baba God fit save us 4rm bad leadership oo.

The Governance Code is not a law but just a regulation issued by the FRC in October 2016. There is nothing involving the legislature there.

Those who says the 'law' had been in existence since Jonathan time are just being mischievous. The law that was ed in 2011 by the legislature is the establishment of the FRC itself. One of the functions of the FRC as provided in that law is to regulate the corporate governance in Nigeria. It is in execution of that function that FRC now istratively issued the governance code in 2016.

Winneygirl:

.
All Bids below and at par with CBN rates are successful.
All bids above CBN rates are unsuccessful.
So the bank most likely bidded at a rate above the CBN rate for the time.

Well may be my question was misconstrued because of your earlier post that I quoted.

What I meant is this:

In the last auction of 4th January,
The range bid for 91 days TB was 13 - 18%
The successful bid rates were 13 - 14%
The stop rate was 14%

My bank didn't allow me to bid at my rate but insisted that it would bid at its rate. While from the cbn publication of the range bid, one can see that no bank bid below 13% or above 18%. I intended bidding at 14% and I would have been successful but the bank later informed me after the auction that it bid at its rate of 13% which also fell within the successful bid rates.

While the difference of 1% is minimal in this case, what of the instance of successful rates being like 12 - 16 and the bank is successful at 16 but tells its customers it bid at 12. My question then is, is there a way to what a particular bank successful bid rate is, if one is not an insider?

Also does the customer have the right to insist on bidding at his/her rate?

Winneygirl:

.
I don't see how Stanbic might want to frustrate customers.
.
I chose their rate at d previous auction. They bidded 17.49% and CBN stop rate was 17.5% for 182 days.
They must've gone a little higher in the hopes that the rates will go up.
.
Any bank that wants to frustrate its customers will choose very low rates.
.
It didn't work out this week for 182 days. It might at next auction. The bank is run by humans, and there's no telling what the CBN rates will be at next auction.

Is there a way a non-insider can what the bank's bid rate is?

If a customer choose to have the bank bid for him at its rate and the cbn stop rate is 17.5%, what prevent the bank from telling the customer that it made a bid at may be 15% especially if that 15% falls within successful bid range?

Sealeddeal:
Police officer addressed as ALHAJI?
It will not be well with this country again.
" I will leave this country Nigeria and go back to my Ondo state

What should they address him by? Deacon?

sammyj:
This SE political leaders so dump and useless. Even GEJ whom they see as their dump clueless god GEJ could not use his power to settle this dispute when he was still in power. My advise to their youth is for them to shine their eyes and fight for themselves rather than fighting blindly for some politricians !!!

Even from the disted news reports, it is clear the case was already resolved by 2007 (31 years from 1976) and the oil wells already returned to the affected states before GEJ assumed the presidency.

What is not clear is why the so-called consultant is claiming derivation from only 1976 - 2001 (just 25 years) and what he meant by escrow . Escrow should mean that the N9.5tn is warehoused in an ready for withdrawal at a moment notice. Is the balance sheet of the federation showing such fund?