₦airaland Forum

ibechris:
The time he was reaping it was not a scam but because it's gone south now,..he can give it a bad name just to justify his greed.

In life,there is time for sowing,reaping and even sorrow. Let every man know this. It is not always rosy in this life.

I don't know what is your own with me guy. Are you the one in charge of my savings and investment? You're just mad for nothing but you know what I'm saying is the truth. I started investing in Tbills in 2017. Normally in a regular economy many people will invest for 10 years and feel okay with their low interest rate in other climes but can you do that in Nigeria? Invest in Tbills for 10 years. This is my simple point. If had converted my money even at black market rate to dollars in 2017 and just left it in the bank doing nothing I'd be richer today than all the investment cycles I've done in Tbills because of Naira current devaluation. For over 10 years the naira has continuously fallen. I'm sure if u plot a graph of Naira against dollars since 2010,it would point straight down. I'm now beginning to re-evaluate my investing with naira. Im kind of buying into the idea to invest in dollars because I don't think the next 10 years may be different. There was time when it was 147 then 225 then 345 now its 460. Then next it will go to is 500 and something.

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emmasoft:
Of course I understand. That is why we have different forms of investment widows. More so you are operating in different economies I guess. At this moment treasury bills is not attractive agreed but you can look the way of stocks and mutual funds that can help beat inflation at the long run. It's not compulsory you have to invest in treasury bills. This same Tbills at a time was 18% percent it's a matter of economic situations in the country. Even converting your naira to dollars still have some risk attached except you get it cheap. Remember in 2016 some got at 500/dollar or above they are not really smiling till now. That same 2016 some bought zenith less than 11/share and sold 23/share. So my bros look well there are options.

Would it beat devaluation and constant mismanagement.m by Nigerian govt this equities your talking about? Any investment that will domicile my money in Nigeria is waste of my time because Nigerian govt is not serious.

emmasoft:
I understand him and the angle he's looking at. It's that word "scam" I'm not really comfortable with because no one is tricked to invest in TBills it's a matter of choice.

I don't mean "scam" as in fraud or MMM. I mean "scam" as in not worth it for long term investment.

PS: If anyone here knows how I can get naira as dollars in U.S. Please let me know. Thanks.

Let me save myself from the next devaluation wave ooooo
.....

Lazyyouth4u:
You are abroad and you have USD. Why in God’s name would Nigerian Tbills be a safe investment for you? You cannot compare yourself to the man in Naija making Naira na. Haba.

People abroad that I know are only investing money they can afford to lose in Naija. They put most of the money in Tbills those years when the returns were attractive and are now switching to 100 % equities. If the money goes, it goes. If Tbills returns increase again, they rebalance.

But to move person life savings from abroad to invest in Naija is not just risky, it is very ...... You can fill in the blanks

Nope that is not the case. I always had and had grown this money in Naira as the naira portfolio of my investment. I wouldn't even call it investment becasue I dont consider it an investment. I will call it savings because I'm often always just trying to beat inflation and of course now devaluation. My U.S funds are just in the bank just sitting there doing nothing and I'm okay with that. I'm not really losing money nor gaining money in U.S. But I've discovered that I am constantly losing value in Nigera. The money I make from the treasury bills neither counters inflation nor devaluation hence there is really no point keeping it there. Assuming I had kept this same money in dollars in 2019 doing nothing, I will be about 8k dollars richer than the returns I'm getting from treasury bills. So how is treasury bills a good investment when I'm constantly losing value. All the long talk emmasoft has posted there means nothing to me. I don't know of anyone that will keep a sum of money and watch it lose value and term it "money they don't mind losing" If I had that kind of money that "I don't mind losing" I'd simply throw it into the dustbin.

PS: Financial freedom for may be different from you. My number one goal is that the money I save AT LEAST keeps its value. I'm low risk and I'm okay with very little gain that can beat inflation but TBills in Nigeria time and again has shown that it doesn't beat devaluation.

The 2 exchange rates in Nigeria is another problem. I can't keep my money in such a country. I'd rather lose a lot on it now than even much more in the future and trust me, the time will come when the naira will be devalued again and it may be before the end of this year.

I repeat, TBills in Nigeria is a scam. It's even better to keep your money as bitcoin.

Nigsrdumb:
Tb is a safe investment? Lmao.

You should ask those of us that sent money from abroad to put in tb which means converting equal more losses.

Why do you think a lot more house's are selling faster in Lagos, yeah because people are trapped and are now putting those funds in properties.


Risk aversion and irrational economic behaviour are two separate things.

You can't be serious by saying tb is risk free, when people like me have lost close to 30k dollars on Forex devaluation.

Brother me and my wife were looking at this thing. Treasure bills is a scam. We no do again. I've lost like 7k dollars in treasury bills from devaluation. How is that a safe investment. I'm currently looking for how to convert my x million naira to dollars asap.

You need an extremely fast computer i.e a super computer to mine bitcoins. Anyone that tells you he is mining bitcoins with an "app" is a liar.

This is entirely retar.ded. This is the type of rich people we have in Nigeria and the whole of Africa that is why the country and continent as a whole has refused to progress. There are 1001 things to do with money that will yield HUGE returns even in people's lives and I'm not talking about giveaway. Anyway her money. You know what Bill Gates said to Dangote when he came to Nigeria during his daughter's wedding? He asked Dangote why just a few streets away he could see people living in absolute and abject penury and poverty while Dangote is living in a palacial mansion
even better than the richest man in the world. He just didn't understand it and probably never will. Black people have a HUGE problem. Some extremely rich people will still be waiting for W.H.O and Bill Gates to come empower people from their village.

Yankee101:
I tell you. Don't send any big fx to save in nigerian banks for now. Buhari and his people are desperate with no economic ideas

All the people keeping fx in NIgerian banks. They will still soon start giving them in Naira by force, Venuezal style.

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Yankee101:
So una want make I pay taxes abroad and pay taxes for naija?

Well, the little dollar we send home will stop now, since na that one una dey look wan collect part of our income

Thunder fire un papa. Na una dey work for me or help me pay taxes here, abi una never hear of double taxation?

Anyone with dollar holdings or savings in Nigeria should do the needful. You're the target. Everyone knows the government is running out of fx, so they want to raid your accounts like they did in Lebanon

I'm looking to disburse my little savings in Nigeria abeg. Buhari govt don mad. Me, I go dey work for inside cold for abroad, then you guys go sit down for Aso Rock dey collect the money. Una papa.

By now everyone should have seen the writing on the wall. This govt is broke. They are now looking for how to tax their citizens abroad. How have they ever assisted anyone? Even us abroad, the embassy will take donkey years to renew your passport. First they increase petrol price, increase electricity tarrif, now they want to tax citizens abroad that they've nothing to contribute to
. Is that not why we left in the first place i.e our leaders are useless? Buhari's govt is to take and take. No benefit whatsoever. He is busy looking for money to cater for his large family's next medical trip abroad. Is that not where they always go when they are sick? UK, U.S, Dubai , Germany. Yet doctors will continuously strike in Nigeria and the facilities are junk. If these foreign countries didn't take care of their health system, will they be going for medical tourism there?

Buhari is nothing but an hypocrite. Yes I said it. They should go and meet dangote for dollars naaa. Afterall they have been subsidizing his business for him at 385 naira to 1 dollar. Foreign tax kill you there.

By December once my investment in Nigeria matures, I'm going to totally pull out everything from Nigeria. That green passport has brought me nothing but shame.

That is what Yoruba call " Ise kekere, owo nla" i.e little work and huge returns.

Ogbon ole

TheChameleon:


Anoint me with billions not "pure water"


https://www.reactiongifs.com/r/strchw.gif

Ogun & Sango strike you there

Abeg who oil help?? May she annoint me with billions or at least 5 percent of her oil bloc. Which kind of annoiting oil is that? It's yellow not black. I want black ma.

Abeg. What has the west got to teach us about marriage in Africa Can you tell me? 50 percent of marriages in U.S end up of in divorce. Marriage success for them is worse than flipping a coin. Yet they know how to demarket our own system and feel their media can teach us about marriage? GTFOH.

Yes "to love and to obey" that is how we do it down here, if she doesn't like that should go and marry a white man. But they skipped the part where the man say "to always provide" abi.

In Nigeria the divorce rate is less than 1%. Granted a lot of people are suffering and smiling but don't forget that in Nigeria, there is no social system to cater for the children in a divorce

PLEASE LEAVE OUR SYSTEM FOR US. It must have been working to be 1% divorce rate. The marriage vows are reflective of our culture. Chikena. 1% to 50 % is a HUGE difference.

rentAcock:
Iran is a shit hole country. Imagine with all the crude oil they have, they are still a backward 3rd world shit hole. Instead of joining the world stage and enjoy prosperity like Saudi Arabia they choose to be a dictatorial and oppressive 3rd world country. What a shame.
You can win N5,000 right here on nairaland by answering simple questions. Show starts today @ 9pm. See previous episodes here
https://www.nairaland.com/5429655/naija-quiz-show-5-win

Iran is far from a shithole. Have you even been to Tehran before or any City in Iran? They are not like what you think. They are even more developed than Malaysia and as much as Singapore. Don't kid yourself. They are developing nuclear and all that. They are very advanced in Science and Tech.

Their foreign policy and squabbles with U.S is another matter entirely.

Hope Police won't come and scatter this one again.

[quote author=Everbest30 post=93393139][/quote]Are you blind or what? That is 2.1

Bewiseedet:
Laycon is under a spell

I said it in my previous post that Laycon has chosen to be unfortunate in life. He is the Kings of Simps for sure. After Kidd and Erica make up then he will become mental attraction again while Kidd keeps the Physical attraction. Hahahaha. I don die. Later people will come and say Laycon is a street guy. Street guy kill you there.


PS: My comments are based on the program ooo. Not in real life.

He wants your pus. sy in Nengi's body. What am I evem saying. Thunder fire this Erica abeg. If I was Kidwayya I'd be tempted to flog her with belt after hearing that rubbish. Na love you come find for bbn or 85 million. If she goes back to Laycon and he accepts her then I'd know that Laycon has chosen to be unfortunate in life.

I was doing my thing jejelly abroad ooo when I heard one African American talking about it to his friend "that can you imagine this shi.t I saw on the internet that some crazy people in Nigeria are trying to sentence some one to death because of he rap against a religion" I just kept my mouth shut since they didn't even know the I was Nigerian. My point is that the stupid shi.t that happens in Nigeria always reaches people far and wide. Well it's their Sharia. My question about this Sharia is that they said it applies to only Muslims abi? The day Civil War will start in this country is the day they try to apply it to even one Christian. Just one! Na dat day Naija go split.

Abeg... Tell me another story. When Indians get to a position abroad, you will see them using it to try to uplift their fellow countrymen but when Nigerians get same position they will be docile and forming meritocracy. So he is Nigerian, doesn't mean anything. Nigerians abroad don't help themselves.

Black is not a color? So what is it? A shape? I think this guy is high on weed. His accounting degree needs to be withdrawn.

And someone will tell me that Nigeria never cast?

SegFault:
A reference wasn't made to black Africa is that what is paining you? Una don start again, congrats to the couple abeg and oyedepo keep on cashing out big man.

Yes. I used to wonder why the Bible never contained any word about Africa. He has made a right observation. How come through out Christianity you will never see any reference to black people?

Hello my fellow Lazy Nigerian youths. Don't be deceived by Nigeria. Mark Zuckerberg started Facebook less than 20 yrs. Elon Musk is not even 40 yrs and launched a rocket to space. Bill Gates started Microsoft as a young adult. I can go on and on. The phone or laptop you're using to view this message was designed by young adults like you. This people live in countries that youths are given a conducive environment to succeed. But in Nigeria, what plan does govt have for the youths? The only successful sector in Nigeria is entertainment. And it's because it's controlled by youths. But anything that has to do with those old cargos in political positions that have refused to leave will be a monumental failure. I repeat nigerian youths, get sense! Both APC and PDP are the same. They don't give a f. Uck about you. They will still go abroad when they are sick and use state money to sponsor their children abroad to come back and occupy the juicy govt positions and limited jobs. A good example is Babajide Obanikoro.

So hustle for yourself whether inside the country or outside if you can migrate legally. Your destiny is not tied to a geographical area esp a failed system. The world is global now. Don't let our failed leaders limit what God has destined you to become. I weep when I see youths in other countries doing great things and Nigerian youths are called Lazy. Let me tell you who is lazy. It's the leaders that have refused to think about how to solve youth unemployment, security, electricity, infrastructure, economy etc.

The country is broke and the oil is drying up. The only option left for this thiefing politicians is to borrow money from IMF, world Bank etc so they can continue treating themselves abroad and sponsoring their kids to schools abroad. Who will pay all this debt. It would be your children and children's children. I repeat. Lazy Nigerian youths receive sense.

What a Simp... It's his mates that is pressing the yansh anyhow under close doors and ofcourse with the lady's agreement. See has he pressed it and ran away for his dare life like a scared dog. I repeat what a Simp....

kintus:
Export export export.

Best option I can recommend for you is to look for a trusted exporter of Agricultural products. He will buy the products locally in naira and export to Europe or any other country.

The consignee will pay in dollars. Even though FGN will demand you repatriat, there should be a way that the banks can work this out for you to get paid in the dollar.

Shalom.

Can you tell me more about this.Though I was looking for something easier that could be done online. I'm not a big investor really. Just some of my small savings from my little income and all.

Princeofasia:
yes your definition is correct. but do you know that, when u decided to move money out of the jurisdiction of the law, it makes the money illegal? within the jurisdiction of the law is moving it using bank and declaring huge amounts

Can you tell me how I can move my money at CBN rate or close to through the banks if you're not Dangote? Nigerian economy systems is rigged to benefit only people like Dangote etc that are amassing our commonwealth. I bet you, if Dangote wants 10 million dollars forex today, he will get it. But what about small investors like me with our 2 naira. What are the options for us? That is why you never see any Mark Zuckerberg or Elon Musk spring up in Nigeria because all the agbalagbis and agbalagbas have connered everything.To be honest with you, my goal right now is to take out all my investment from Nigeria in Naira and count my losses. Someone on another thread said he won't ever invest in naira if he is not promised atleast 30% interest because of naira instability. And I agree. This is why the youths are doing bitcoin now. Some have been smart enough to understand early. The rests are still hoping on treasury bills, stocks and waiting on government jobs.

Well as a lazy Nigerian youth, I have to think outside the box and get my money out as soon as possible.

Princeofasia:
yes, you pay a 1000 dollars to be taught money laundering

How is it money laundering when it's my money that I obtained legally.

Definition of money laundering according to oxford dictionary:

"mon·ey laun·der·ing
noun
the concealment of the origins of illegally obtained money, typically by means of transfers involving foreign banks or legitimate businesses."

It's not by force to keep my money in an unstable economy.


Are you willing to show me the way or not because are know Nigerians don't like to share valuable information that is why the country is where it is today.

What is the most efficient way to convert 12 milllion to USD. I'm currently in U. S and I'm tired this treasury bills crap. The interest on investment can't even bit naira falling nor inflation. Is bitcoin a good idea? Is there any other better to invest other than naira? Investing in naira at this point is pointless.