Treasury Bills

A short term investment securities issued by governments to finance national borrowing requirements.

Product Description

  • –   Short term negotiable bill of exchange.
  • –   Used by Governments to help finance national borrowing requirements
  • –   Quoted for purchase/sale in the secondary market on an annual percentage yield to maturity.
  • –   Issued at discount.

Product Features

  • A tenured investment account with a specific amount invested at an agreed interest rate and tenure. At the end of the agreed period (tenure), and based on your instructions, the investment can either be re-invested or returned to you with the interest.
    amount earned.
  • –   Interest is paid upfront.
  • –   Short term debt instrument.
  • –   Issued at zero coupon rates i.e. no interest paid during life-cycle of the bill.
  • –   Issued in fixed tenures i.e. 91 days, 182 days and 364 days.
  • –   Primary dealers or investment bankers may underwrite it.

Benefits

  • –   T-bills qualify as liquid assets for the purpose of liquidity ratio computation.
  • –   Used as collateral securities for repurchase transactions
  • –   Interest received not subject to tax
  • –   Repayment guaranteed at maturity
  • –   Interest rate and tenure is subject to customer’s preference.
  • –   Interest with principal can be re-invested immediately after the end of the agreed tenure.
  • –   Interest received is not subject to tax.
UBA_SLIDER_shopper1

Treasury Bills Requirements

  • –   Letter expressing desire to invest in T-Bills and authority to debit account thereafter
  • –   Custodial authority duly signed by client
  • –   Copy of physical bill duly signed by investor and reflecting issuers name
  • –   Duly signed investment contract confirmation letter showing issuers name.
  • –   Filled KYC form
  • –   Account opening form with passport attached and means of identification
  • –   Cheque or lodgment slip
  • –   Custodial authority duly signed by client
  • –   Copy of physical bill duly signed by investor and reflecting issuers name
  • –   Duly signed investment contract confirmation letter showing issuers name.
  • –   Filled KYC form
  • –   You initiate request and comply with requirements above
  • –   Account officer verifies documents and forwards to treasury
  • –   Treasury raises deal slip and forwards to Trops
  • –   Customers account is debited in line with deal slip instructions
  • –   Contract certificates are generated

Frequently Asked Questions

You can buy or sell shares through UBA Securities Limited. Please see their contact details below:
UBA Securities Limited
Customer Services
UBA House | 12th Floor
57, Marina
P. O. Box 2406,
Lagos, Nigeria
Email: ubastockbrokers@ubagroup.com
Telephone: +234-1-2808919
www.ubacapitalgroup.com

  • UBA’s financial year-end was originally March of each year. After the merger of UBA and STB, with effect from 1 August 2005, the bank’s financial year-end was changed to September. However, with the CBN policy on uniform year end, the reporting period is now December. In addition, UBA reports interim results of the group every three months to the Nigerian Stock Exchange and to shareholders in the Nigerian Press within 15 days after the expiration of the reporting period.

Yes you can. Kindly contact our registrars, Africa Prudential Registrars Limited to set this up. Please see their contact details below:
Business Development and Relationship
Management Unit
Africa Prudential Registrars Limited
220B, Ikorodu Road, Palmgrove
Lagos, Nigeria
Email: info@africaprudentialregistrars.com
Telephone: +234-1-4606460
www.africaprudentialregistrars.com

The merger between United Bank For Africa Plc and Standard Trust Bank Plc came into effect on 1 August 2005.

The current tax legislation requires that a withholding tax of 10% be deducted at source from all dividend payments.