NewStats: 3,263,443 , 8,180,147 topics. Date: Thursday, 05 June 2025 at 10:48 PM n6v1k

RayRay06677:
FG Update on FX/Naira:

*On FX Backlogs*

- We met $7 Billion in unpaid obligations
- We had reason to believe we needed to take a harder look at those obligations.
- Deloitte was contracted to do a forensic audit of what is valid or not. The results were startling
-- $2.4 Billion had issues
-- Not having valid import documents
-- Entities did not exist got allocations
-- Entities who asked for FX got more than they asked.
-- Entities that did not ask got allocations
- We wrote to the authorized dealer to explain. Sadly much has not been disputed.
- $2.3 Billion of the validly executed ones including Airlines have been cleared.
- What remains is $2.2 billion. We are confident we will address those. We have come to the end of the road.
- The Naira remains undervalued
- The Naira will stabilise.

*On Interventions*

- We have no illusions that interventions are necessary in our country. They help to channel resources to people however small.
- However, it is important to ensure that the framework is there to ensure it gets to those who really need it.
- The CBN will focus on it's core strength.
- We will be working closely with those whose core strength is in the intervention space.
- We cannot think and implement at the same time.
- We do not have the luxury of failed interventions.

*On the MPC*

- We were concerned that the transition was questionable. We took our time to ensure as much as possible that the MPC is impactful and complements the fiscal side.
- It signals we are moving the MPC in the right direction.
- The new CBN is fully focused on Stabilization of prices and lowering inflation.
- The MPC will reflect the new direction of the CBN focus and core mandate.

*On Communication*

- We are revamping the whole communication strategy of the CBN.
- We are engaging various stakeholders to get on the various things we are implementing.

Yen,yen,yen, Yawn's, endless story upon stories from different successive government since 1999, the gif Below is for both APC and Pdp led clueless thieving government that has made Nigeria the headquarters of extreme poverty in the world

You are welcome

manwomanok:
@ everyone Thank you all for your responses, I have gain alot from all post last week.

one more thing, when is the last week fgn bond going to be reflect on my cscs. is it suppose to be immediately or specific period of time after successful bidding,

What is treasury bills rate oo? Anyone with info?

RayRay06677:
Operation Rescue Naira: FG considers converting $30bn domiciliary deposits to naira
3rd February 2024

This is true after all.

Circular should be out today.

Trust and believe APC at your peril.

RayRay06677:


This is true after all.

Circular should be out today.

Trust and believe APC at your peril.

except the CBN is lying, this has been debunked ( source nairametrics , Arise Tv interview). kindly do the needful and stop ing wrong information.
source:
I. https://nairametrics.com/2024/02/03/breaking-fg-cbn-deny-plans-to-convert-30-billion-domiciliary-deposits-to-naira/

II.https://www.youtube.com/watch?v=zXPtlZ5OuYI

Mills55:
What is treasury bills rate oo? Anyone with info?

What's happening, my people?

WTH is this..

It don happen

RayRay06677:


This is true after all.

Circular should be out today.

Trust and believe APC at your peril.

Hogwarthtrades:


except the CBN is lying, this has been debunked ( source nairametrics , Arise Tv interview). kindly do the needful and stop pasing wrong information.

Expect circular before close of business today

IamR:
It don happen

Obe ti SOOOO! . NA to park small monthly allocations inside MMF can't shout

Hogwarthtrades:

Obe ti SOOOO! . NA to park small monthly allocations inside MMF can't shout

So why SFS no dey gjve this kind rate? Abeg wetin be the nsme of that marketer make he come answer o

RayRay06677:


Expect circular before close of business today

My oga, you're trying so hard to tell us ''I TOLD YOU SO'', but this is not happening anytime soon.

seyisanya:
My oga, you're trying so hard to tell us ''I TOLD YOU SO'', but this is not happening anytime soon.

And my reward becomes?

only sharing privileged info, expecting CBN to deny again.

Tranquility2345:


So why SFS no dey gjve this kind rate? Abeg wetin be the nsme of that marketer make he come answer o

Emmasoft??

Mills55:
What is treasury bills rate oo? Anyone with info?

The 364-day treasury bills stop rates spiked to 19% per annum, the first clear signal that the central bank was moving towards a hawkish monetary policy. The 182-day and 91-day bills also rose to 18% and 12.2%.

The rate hike is seen as a major monetary policy move aimed at fighting the depreciation of the naira and sucking out the excess money supply to combat galloping inflation.

At the last auction on the 29th of January, the interest rates for these maturities were recorded at 5% for the 91-day bills, 7.15% for the 182-day bills, and 11.54% for the 364-day bills, respectively.

Nairametrics had reported earlier that the central bank was likely to offer a higher interest rate for treasury bills, a move seen as a way to stifle the depreciation of the naira.

A total of N1 trillion was on offer but was oversubscribed as investors staked a whopping N2.3 trillion. The one-year bill on offer for N600 billion recorded a massive N1.8 trillion subscription out of which the central bank sold N908.7 billion

Details of the offer
91 days – Investors staked only N39.9 billion for the 91-day bill compared to the N200 billion offered by the apex bank. The range of interest rates bid was between 7% and 17.2%. The central banks sold the N39.9 billion staked.

182 days – Investors also undersubscribed the offer, staking just N76.8 billion out of the N200 billion offered by the central bank. The central bank allotted only N51.3 billion. The range of bids was 4% to 19.9%. The stop rate was 18% for treasury bills.

364 days – The one-year bill witnessed a three-fold oversubscription of about N1.8 trillion compared to the N600 billion that was on offer. The apex bank allotted N908.7 billion with stop rates of 19%. Investors bid between 13% and 29.9% as interest rates.


The higher-end bid of 29.9% which is slightly higher than the inflation rate, indicates where investors want rates to be. Some analysts who spoke to Nairametrics opine rates will likely continue to rise in the coming weeks as CBN intensifies efforts to combat exchange rate depreciation.

What this means
As stated in our story earlier in the day, investors signaled that the apex bank was looking to increase interest rates in today’s auction in line with market expectations.

By tightening monetary policy through higher interest rates and larger treasury bill auctions, the CBN aims to curb inflation and stabilize the exchange rate, thereby fostering a more balanced economic environment.
The decision to significantly raise the volume of treasury bills auctioned, especially for the 364-day tenure, underscores the CBN’s commitment to addressing the liquidity surplus in the economy.
By absorbing excess liquidity, the CBN endeavors to counter inflationary pressures and the naira’s value, which is crucial for economic stability and growth.
Nigeria is now in a new phase for interest rates as most lending rates will also be adjusted higher to avoid negative yields.

The impact will likely be felt on short-term debt securities such as commercial papers with companies set to absorb increases in their finance cost.
On the flip side, the exchange rate is expected to stabilize helping companies avoid exchange rate losses.
The chances of these policies working will largely depend on whether foreign portfolio investors see this as an enticing enough return to inflow forex into the country.

https://nairametrics.com/2024/02/07/nigerian-treasury-bills-rate-jumps-to-19-per-annum-as-cbn-targets-exchange-rate-stability/

Nigeria Sells Treasury Bills to Investors at 19% After Spike in Demand
https://businesspost.ng/economy/nigeria-sells-treasury-bills-to-investors-at-19-after-spike-in-demand/

Tranquility2345:


So why SFS no dey gjve this kind rate? Abeg wetin be the nsme of that marketer make he come answer o

The increase rate is a new development bros/madam!!! If it's a money market fund even fixed income fund should gradually reflect the increase in coming weeks (depends on the exposure of the fund to recent tbill / bond market auction).

Hogwarthtrades:

The increase rate is a new development bros/madam!!! If it's a money market fund even fixed income fund should gradually reflect the increase in coming weeks (depends on the exposure of the fund to recent tbill / bond market auction).

@Hogwarthtrades you are very correct.

For investors in mutual funds particularly MMF and fixed income fund note that any change in tbills rate or MPR will surely affects the funds since one of the major underlying asset for these funds is tbills but the change is not instant. It will take effect when revalution is done using the new rate.

One thing is sure, a positive change in tbills rate or MPR is a plus for all MMF or Fixed income investors but it's the opposite for equity investors/traders all things being equal.

emmasoft:


@Hogwarthtrades you are very correct.

For investors in mutual funds particularly MMF and fixed income fund note that any change in tbills rate or MPR will surely affects the funds since one of the major underlying asset for these funds is tbills but the change is not instant. It will take effect when revalution is done using the new rate.

One thing is sure, a positive change in tbills rate or MPR is a plus for all MMF or Fixed income investors but it's the opposite for equity investors/traders all things being equal.

The thing is the rates swing easily in MMF.
Yes it's 19% now, next two months it could drop to 15% and subsequently to 12% affecting the total profit

Whereas an investor in tbills will lock it down for the year

chukzyfcbb:

The thing is the rates swing easily in MMF.
Yes it's 19% now, next two months it could drop to 15% and subsequently to 12% affecting the total profit

Whereas an investor in tbills will lock it down for the year

True

chukzyfcbb:

The thing is the rates swing easily in MMF.
Yes it's 19% now, next two months it could drop to 15% and subsequently to 12% affecting the total profit

Whereas an investor in tbills will lock it down for the year

Yes rates are daily valued in MMF but the truth is when Tbills rate is high it affects MMF positively.

MMF also has its advantages
Easy entry and exit without penalty after 30days.This makes MMF very good for emergency fund.
It can be invested in with as little as 5,000
If rate changes upward it affects MMF positively but Tbills is static for the tenor.
Reinvestment ie Compounding is easily done with MMF.

So both Tbills and MMF are good for any conservative investor it depends on what you wish to achieve at any point in time in your investment journey or strategy.

The truth is that there is no one form of investment that can meet all the needs of an investor hence diversification is always encouraged.

emmasoft:


Yes rates are daily valued in MMF but the truth is when Tbills rate is high it affects MMF positively.

MMF also has its advantages
Easy entry and exit without penalty after 30days.This makes MMF very good for emergency fund.
It can be invested in with as little as 5,000
If rate changes upward it affects MMF positively but Tbills is static for the tenor.
Reinvestment ie Compounding is easily done with MMF.

So both Tbills and MMF are good for any conservative investor it depends on what you wish to achieve at any point in time in your investment journey or strategy.

The truth is that there is no one form of investment that can meet all the needs of an investor hence diversification is always encouraged.

I recently did a redemption when i needed emergency fund. The good thing is that it was part of the profit that i redeemed.

chukzyfcbb:

The thing is the rates swing easily in MMF.
Yes it's 19% now, next two months it could drop to 15% and subsequently to 12% affecting the total profit

Whereas an investor in tbills will lock it down for the year

Apart from that, in TBill you are very sure of the final/quoted rate and charges are clearly spelt out. In some MMF what they claim to add is actually not the case. They take advantage of people not monitoring to post fictitious interest and credit your with a lesser sum.

I noticed this last December and decided to start keeping statements to follow up and after this January, I can confirm to you that the interest amount they (especially Stanbic) always to post is not complete.

freeman67:


Apart from that, in TBill you are very sure of the final/quoted rate and charges are clearly spelt out. In some MMF what they claim to add is actually not the case. They take advantage of people not monitoring to post fictitious interest and credit your with a lesser sum.

I noticed this last December and decided to start keeping statements to follow up and after this January, I can confirm to you that the interest amount they (especially Stanbic) always to post is not complete.

How did you track this?. Interest is posted on the first day after end of month. If you check your statement during the day of the end of month, one day interest is not yet calculated.

NL1960:


How did you track this?. Interest is posted on the first day after end of month. If you check your statement during the day of the end of month, one day interest is not yet calculated.

Before, I used to open my app almost everyday except the days I extremely busy. I did that through December and noticed that the interest that was displayed throughout was debited but not credited. My balance was reduced. Thus, I complained to them and they rebuffed my complaint with the claim of mistakenly posting interest to all MMF s twice for December so they had to deduct it. Which was false, because I was very sure of what I was saying. That period, I wanted to make a deposit and had to observe to see that all was normal from their December - January end of the year balancing before I deposited to avoid issues.

Also, I noticed that after my complaint they made adjustments to statements on the app. Before, every end of the month, it will be indicated that your interest was debited with the - red sign and credited with green + sign for people that choose reinvestments of interests. Immediately after the complained I noticed that all the debit was removed and the last debit was corrected to credit.
Thus, I insisted on what I believe/observe then they asked me to bring a proof but I couldn't because the one I had was in their hands and they have altered it. So I deliberately decided to start keeping statements.

After the back and forth, I ed the Statements for my s from Inception from their website reflecting my balance on the 31 of December 2023.

On the 1st of February I open the app and discovered the interest for January has been credited. So, I ed the statement again, I wrote out my balance from 31 December 2023, added the amount I deposited and the amount they posted/claimed that they credited as interest. The was no indication that they debited any and it didn't add. I did it with my other and I discovered it same. The money taken might be significant because the money is small but I hate being scammed by those I entrust funds to.

You can check the attached screenshots for confirmation.

freeman67:


Before, I used to open my app almost everyday except the days I extremely busy. I did that through December and noticed that the interest that was displayed throughout was debited but not credited. My balance was reduced. Thus, I complained to them and they rebuffed my complaint with the claim of mistakenly posting interest to all MMF s twice for December so they had to deduct it. Which was false, because I was very sure of what I was saying. That period, I wanted to make a deposit and had to observe to see that all was normal from their December - January end of the year balancing before I deposited to avoid issues.

Also, I noticed that after my complaint they made adjustments to statements on the app. Before, every end of the month, it will be indicated that your interest was debited with the - red sign and credited with green + sign for people that choose reinvestments of interests. Immediately after the complained I noticed that all the debit was removed and the last debit was corrected to credit.
Thus, I insisted on what I believe/observe then they asked me to bring a proof but I couldn't because the one I had was in their hands and they have altered it. So I deliberately decided to start keeping statements.

After the back and forth, I ed the Statements for my s from Inception from their website reflecting my balance on the 31 of December 2023.

On the 1st of February I open the app and discovered the interest for January has been credited. So, I ed the statement again, I wrote out my balance from 31 December 2023, added the amount I deposited and the amount they posted/claimed that they credited as interest. The was no indication that they debited any and it didn't add. I did it with my other and I discovered it same. The money taken might be significant because the money is small but I hate being scammed by those I entrust funds to.

You can check the attached screenshots for confirmation.

I have never ed the statement.

When you first made this complaint, i decided to track mine. So on the morning of January 31, 2024, i took a screen shot of my dashboard and did a mental calculation of the daily interest and the likely figure to be credited. On February 1, i checked again. What was credited was higher than the amount when i took the screen shot which means the one day interest of January 31 was added. Did not bother to start tracking to decimal places because the rate used daily is not always specified.

NL1960:


I have never ed the statement.

When you first made this complaint, i decided to track mine. So on the morning of January 31, 2024, i took a screen shot of my dashboard and did a mental calculation of the daily interest and the likely figure to be credited. On February 1, i checked again. What was credited was higher than the amount when i took the screen shot which means the one day interest of January 31 was added. Did not bother to start tracking to decimal places because the rate used daily is not always specified.

It's better you your statements from the web and keep. It may come in handy whenever you have the time to check.

Even though daily interest is not always specified amount added monthly is specified. That amount should tally to the previous amount you had if summed up or a reason should be provided for why it doesn't add up in the statement.

I just had to add the screenshot for avoidance of doubt but I will take them down now.

Please, whoever has TB 1 Qtr 2024 Calender to help me post it here ooo.

TB heading to 25% for 365 days

By march it will be over 25%

Good day to all.i am new here.It is nice to be here and hoping to get good/ right informations on TB.God bless all

freeman67:
Please, whoever has TB 1 Qtr 2024 Calender to help me post it here ooo.

Pls I am equally interested in this