Maneq:
Go and post your reply on his thread and stop putting burden on Seun's servers with unnecessary threads.

DZTech:
the original post was:

Age 25 With 1 Million Naira & Living With My Parents: Buy Land Or Pack Out? by CuteVally

https://www.nairaland.com/6066900/age-25-1-million-naira/

oboy, bodi dey scrash u?

how much was d dollar equivalent of ur money in January?

how much was it in June?

how much will it be in December?

convert ur funds to dollars.
research mutual funds or a fixed deposit account- all interest payments added to d principal.
by October, ur money might have doubled (forex for schools abroad).
avoid shares, forex, crypto- unless ur a professional in the field.

if u want to invest in Nigeria, STRICT retail of FMCG is ur best bet-
make sure u hire competent staff, pay well & ensure monitoring.

good luck,
God bless

DZTech:
the original post was:

Age 25 With 1 Million Naira & Living With My Parents: Buy Land Or Pack Out? by CuteVally

https://www.nairaland.com/6066900/age-25-1-million-naira/

oboy, bodi dey scrash u?

how much was d dollar equivalent of ur money in January?

how much was it in June?

how much will it be in December?

convert ur funds to dollars.
research mutual funds or a fixed deposit account- all interest payments added to d principal.
by October, ur money might have doubled (forex for schools abroad).
avoid shares, forex, crypto- unless ur a professional in the field.

if u want to invest in Nigeria, STRICT retail of FMCG is ur best bet-
make sure u hire competent staff, pay well & ensure monitoring.

good luck,
God bless

GboyegaD:


No vex, you sef, body dey catch you. So you feel the naira will depreciate by almost 100% before the end of the year, right? Even at that, it doesn't implies his dollar would have doubled. But I get the need to protect the value of his worth which is highly appreciated

mariahAngel:


What are your suggestions of FMCG?

Nice thread by the way. Short and precise.

GboyegaD:


No vex, you sef, body dey catch you. So you feel the naira will depreciate by almost 100% before the end of the year, right? Even at that, it doesn't implies his dollar would have doubled. But I get the need to protect the value of his worth which is highly appreciated

mariahAngel:


Sadly, there are people happily cashing out from the free fall of our economy....

mariahAngel:


Sadly, there are people happily cashing out from the free fall of our economy....

DZTech:
depends on ur area.
d 3 key ingredients r high (foot) traffic, low comparative pricing & high turnover.

Munzy14:

Before nko...


Whenever situations are not balancing, some folks are packing huge cash on hourly bases.

mariahAngel:

You're among okwaya?

Munzy14:

Who enjoys waving at train station, while the train is on the move..

DZTech:
d naira amount.
clear?

mariahAngel:


Sadly, there are people happily cashing out from the free fall of our economy....

mariahAngel:


I'm mad at and scared for this country at the same time.
What is going on?
I was discussing it with someone today, saying how come people like Okonjo-Iweala is watching while this country crumbles?
Is there nothing they can do to save what's left of the dignity of our economy?
Do they not have passion for this country? This is not about Buhari's failure anymore, it's our collective failure. I'm ashamed.
For those that can but choose not to do, posterity will judge.

DZTech:
the original post was:

convert ur funds to dollars.
research mutual funds or a fixed deposit account- all interest payments added to d principal.
by October, ur money might have doubled (forex for schools abroad).
avoid shares, forex, crypto- unless ur a professional in the field.

if u want to invest in Nigeria, STRICT retail of FMCG is ur best bet-
make sure u hire competent staff, pay well & ensure monitoring.

good luck,
God bless

mariahAngel:


I'm mad at and scared for this country at the same time.
What is going on?
I was discussing it with someone today, saying how come people like Okonjo-Iweala is watching while this country crumbles?
Is there nothing they can do to save what's left of the dignity of our economy?
Do they not have passion for this country? This is not about Buhari's failure anymore, it's our collective failure. I'm ashamed.
For those that can but choose not to do, posterity will judge.

GboyegaD:


What is the relevance of doubling the naira when its been eroded by inflation induced by the exchange rate since we rely heavily on import?

DZTech:
emm…
I'm confused.
u want him to leave d money as it is?

GboyegaD:


Which is the pain. People that have connections buy at official rate sell at black market and continue with the cycle. The earlier the CBN takes its hand of Exchange Rate and allow the market to determine the price, the better.

Munzy14:

My dear, the country is in a state of mess.. People at the corridors of power see it as opportunity to savour the cake... Nobody is willing to care for those that needs the care..


incompetent people seized power, u wouldn't expect much than what is happening.

Just like what happened in IMO, where a seasoned administrator Ihedioha came on board within months, Imo economy rejuvenated... Until that power was siezed, and it returned to shambles... with lamentations and wailing, while people die of lack of basic needs.


Now, if you have a 9am to 5pm job, start saving to invest.

If you are to invest, consider three basic needs if man... food, clothing and shelter.


tech is our new world baby, but the three is basic.

tosinhtml:


When you say mutual funds or fixed deposit, are you referring to Naira Accounts?
Currently mutual funds in Naira interest rates is 4%. Fixed deposit rates also has dropped.

1M is around $2,000 with $1/470 rate. So are you saying by October, dollar would have become $1 / 1,000 Naira?

I am asking just for clarification, I come in peace.

GboyegaD:


I support him saving it in dollars to preserve the with however, he shouldn't bank to much on so much interest.

promotervickky:
How long did it take you to get the money? If it took a long time, invest in a business that will give you the money back speedily and Repeatedly!

promotervickky:
I just researched the current naira & dollar exchange rate, I found this, 385.2165 to $1?

Where is the 470 coming from?

promotervickky:
How long did it take you to get the money? If it took a long time, invest in a business that will give you the money back speedily and Repeatedly!

mariahAngel:


These kinds of investments are usually very risky. Like ponzi schemes...