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Inflation, Devaluation Push Millennials Away From ₦20 Trillion Stock Market - Business (2) - Nairaland

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Naira devaluation: BDCs get dollars at ₦393, sell for N494 / FG Rejects IMF’s Call For Further Devaluation Of Naira / Analysts Predict Naira Devaluation To N400/$ (2) (3) (4)

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Re: Inflation, Devaluation Push Millennials Away From ₦20 Trillion Stock Market by yazga: 6:07am On Jun 15, 2021
angry
Re: Inflation, Devaluation Push Millennials Away From ₦20 Trillion Stock Market by yazga: 6:12am On Jun 15, 2021
Yankee101:
Low Rate of return,
Inflation,
Devaluation,
Poor governance, government and
Lack of integrity
The invest in US stock market by using the king in my profile to sign up we both get free shares
Re: Inflation, Devaluation Push Millennials Away From ₦20 Trillion Stock Market by livinbygrace: 6:17am On Jun 15, 2021
No need of reading any rubbish,all i know is by December 2021,a dollar will be equivalent to 1.000 naira .Quote me!
Re: Inflation, Devaluation Push Millennials Away From ₦20 Trillion Stock Market by Johnrake69: 6:24am On Jun 15, 2021
The Nigerian Financial institutions don't know what's about to hit them.

They have nothing to offer the millennial generation. I can't imagine myself investing in Nigerian stock when I can buy stable crypto currency and do staking and lending on wault.finance, Ftx exchange and I can get almost 50% per annum. With the advantage of securing my investment in USD. So anything Emefiele like let him exchange Naira. millennial generation are ahead of him.

This is more reason people like Buhari, Lie Mohammed should be at home playing with their grandchildren. This current economy has no place for analogue leaders

1 Like

Re: Inflation, Devaluation Push Millennials Away From ₦20 Trillion Stock Market by 4gunners(m): 6:41am On Jun 15, 2021
Baxilexi:
My take on the inflation and devaluation quandary has always been linked to the forex market.
The channels by which the FG has chosen to disperse this legal tender has created so much racketeering, which in turn fuels inflation.
How I see it.
FG decides to sell USD to a selected few at standard rate, these few in turn to another privileged few. Between one dealer and the next the dollar appreciates an artificial value and by the time it gets to the end user it’s always 30-35% it’s true value.
This in turn means that businessmen must factor the purchase value into their commodities as not all of the have access to various government instruments. This in turn increases the cost of a basket of food and alters the purchasing power parity.

It’s worse outside the country as Nigerians in diaspora watch the black market Abokifx rate to sell forex. I sincerely think Abokifx parallel market should be scrapped. They should advertise only CBN and BDC rates. Why? The CBN will always need to pump more Naira into circulation to purchase a fixed amount of dollars as it changes hands. Eg. 1 million dollars is supposed to be purchased at 412million naira, but the end user purchases it at 515million naira… who prints the artificial 103million naira?
I was once told this is due to demand and supply and I dare to say it is also due to the deregulation in the market and scarcity by hoarding.

The solution I believe is that, Individuals should have direct access to dollars via their bank apps, within limits of course ($1,000 per month) this would eradicate the inflators.
Form A, Form Q and other instruments for dollar acquisition, would still exist for persons in need to larger quantities.

Nigerian money merchants (similar to western union and moneygram) should be licensed and promoted, to help regulate the exchange rate.
A lot of things are just wrong in this country. Brilliant idea you posited, but it still won’t work if there is no sincerity of purpose. Don’t you think the banks will also hoard FX or sell to the highest bidder?
Re: Inflation, Devaluation Push Millennials Away From ₦20 Trillion Stock Market by sinkhole: 6:47am On Jun 15, 2021
I am selling all my stocks on NSE this week and I am moving some to crypto and some to American Stock, through Bamboo cheesy
Trading Nigerian stock is a huge waste of time, even the AGF himself dey even trade crypto too, so why not me? grin
Guys, crypto don dey pump again o cool

1 Like

Re: Inflation, Devaluation Push Millennials Away From ₦20 Trillion Stock Market by Hisroyalbadmeat(m): 6:49am On Jun 15, 2021
We have a government that is interested in digging up a degree on cow routes, that hates social media,hate crypto currencies, and you think this mofos care about the young generation, abobi die it angry
Re: Inflation, Devaluation Push Millennials Away From ₦20 Trillion Stock Market by akaahs(m): 6:50am On Jun 15, 2021
post=102735583:


And the most annoying part is that this keep happening year in year out.
They want to turn 10K to 100K in one month doing nothing!! shocked
How will someone promise you 60% ROI on investment and you’ll believe such?
You will even see some coming here on a daily basis asking if so so and so company is real,
Why? Cos they are ready to invest.......as usual!
Some Nigerians will be greedy till they enter the grave.
No pity for them.
Manyegut businesses you can do or invest your money in that will fetch constant profits.
But for where, na sharp sharp money dem want!


Exactly our point!
Foolish comments. I'm sure u didn't read. is that the reason d op pointed out??

1 Like

Re: Inflation, Devaluation Push Millennials Away From ₦20 Trillion Stock Market by Kubernetes: 6:55am On Jun 15, 2021
During Soludo in 2007, I used #500,000 to buy 15,000 units of first bank shares at #33/share. Today the bonuses I got has increased it to 27,000 units. Now that the share price of the bank is #7.1/share, the value of my investment is less than #200,000 giving me a huge loss of of my investment in 17 years. What a loss in my investment!!!!! Imagine if I had bought a piece of land with the money, I am sure the value will now be over 100%

13 Likes 3 Shares

Re: Inflation, Devaluation Push Millennials Away From ₦20 Trillion Stock Market by Nobody: 6:56am On Jun 15, 2021
Problems has to do with transparency and ease of investment.

1 Like

Re: Inflation, Devaluation Push Millennials Away From ₦20 Trillion Stock Market by tradepunter: 6:56am On Jun 15, 2021
Yankee101:
Low Rate of return,
Inflation,
Devaluation,
Poor governance, government and
Lack of integrity

You have said it all

I pulled all my cash from Nigeria stocks and bought foreign stocks around 2015.

It's been the best decision I have ever made.

2 Likes

Re: Inflation, Devaluation Push Millennials Away From ₦20 Trillion Stock Market by Johnrake69: 6:56am On Jun 15, 2021
Baxilexi:
My take on the inflation and devaluation quandary has always been linked to the forex market.
The channels by which the FG has chosen to disperse this legal tender has created so much racketeering, which in turn fuels inflation.
How I see it.
FG decides to sell USD to a selected few at standard rate, these few in turn to another privileged few. Between one dealer and the next the dollar appreciates an artificial value and by the time it gets to the end user it’s always 30-35% it’s true value.
This in turn means that businessmen must factor the purchase value into their commodities as not all of the have access to various government instruments. This in turn increases the cost of a basket of food and alters the purchasing power parity.

It’s worse outside the country as Nigerians in diaspora watch the black market Abokifx rate to sell forex. I sincerely think Abokifx parallel market should be scrapped. They should advertise only CBN and BDC rates. Why? The CBN will always need to pump more Naira into circulation to purchase a fixed amount of dollars as it changes hands. Eg. 1 million dollars is supposed to be purchased at 412million naira, but the end user purchases it at 515million naira… who prints the artificial 103million naira?
I was once told this is due to demand and supply and I dare to say it is also due to the deregulation in the market and scarcity by hoarding.

The solution I believe is that, Individuals should have direct access to dollars via their bank apps, within limits of course ($1,000 per month) this would eradicate the inflators.
Form A, Form Q and other instruments for dollar acquisition, would still exist for persons in need to larger quantities.

Nigerian money merchants (similar to western union and moneygram) should be licensed and promoted, to help regulate the exchange rate.

So apt. But decision like this can only be taken by a leader with Ballz. They killed the economy immediately they made it difficult for people to access FX while giving a few access.

On a weekly basis CBN sells $20k to BDC who in turn sell at black market rate earning almost #100 spread for doing nothing.

2 Likes

Re: Inflation, Devaluation Push Millennials Away From ₦20 Trillion Stock Market by landforeast(m): 6:56am On Jun 15, 2021
Real Estate remains the best long term and medium term investment. I laugh at people who keeps millions of their unusuable hard earned money in the bank. You are simply enriching the bank not yourself. Invest in Real Estate and watch your investment grow and appreciate over time. We even have Land flipping opportunities for people who are interested in short term real estate investment.
Re: Inflation, Devaluation Push Millennials Away From ₦20 Trillion Stock Market by VeeVeeMyLuv(m): 6:57am On Jun 15, 2021
Kubernetes:
During Soludo in 2007, I used #500,000 to buy 15,000 units of first bank shares at #33/share. Today the bonuses I got has increased it to 27,000 units. Now that the share price of the bank is #7.1/share, the value of my investment is less than #200,000 giving me a loss of overy 60% in 17 years. What a loss in my investment!!!!! Imagine if I had bought a piece of land with the money, I am sure the value will now be over 100%
1000%

3 Likes

Re: Inflation, Devaluation Push Millennials Away From ₦20 Trillion Stock Market by Kubernetes: 7:01am On Jun 15, 2021
sinkhole:
I am selling all my stocks on NSE this week and I am moving some to crypto and some to American Stock, through Bamboo cheesy
Trading Nigerian stock is a huge waste of time, even the AGF himself dey even trade crypto too, so why not me? grin
Guys, crypto don dey pump again o cool

Bro I just did same early this year. I lost #300k in one of my bank stock #500k investment over a period of 17 years.
But don't put more than 30% in crypto because of the high volatility. I will advice you put 70% in bonds, tbills and fixed income investments since they are secured even if the yield is not high.

1 Like

Re: Inflation, Devaluation Push Millennials Away From ₦20 Trillion Stock Market by tempusfugit: 7:03am On Jun 15, 2021
Bad decision, explain to them what is about but never convince people to invest
rentAcock:
It makes no sense investing in the Nigerian stock market because every day your money stays in naira denomination, its losing value. Your Nigerian portfolio may give you an annualised gain of 20%, but what use is it when the naira loses buying power by 40% annually?

I was able to convince my family to convert their naira to dogecoin, let's see how it goes.
Re: Inflation, Devaluation Push Millennials Away From ₦20 Trillion Stock Market by techWriter1: 7:04am On Jun 15, 2021
Low percentage of back deflation Devaluation Poor stewardship goverment andLack of probity
Re: Inflation, Devaluation Push Millennials Away From ₦20 Trillion Stock Market by Udodiri01: 7:08am On Jun 15, 2021
Who will buy crappie Nigerian shares.. The first bank share worth 100k wey my sis buy 5 years ago the busy the send am 98naira every year.. The other bank sef no the send anything... The use our money the flex and time value of money is very prevailant because of downward trend of devalueing and volatile naira. The best way to save is to save ur money in hard currency. Very soon we will adopt using dollars as a legal tender

1 Like

Re: Inflation, Devaluation Push Millennials Away From ₦20 Trillion Stock Market by Oritna94(m): 7:17am On Jun 15, 2021
Who will invest in Nigerian stock exchange? My assets are in usdt and a small portion in yield farms churning me returns every day. No need to kill myself with Nigerian stocks. It is on a road of no return.
Re: Inflation, Devaluation Push Millennials Away From ₦20 Trillion Stock Market by sinkhole: 7:24am On Jun 15, 2021
Kubernetes:


Bro I just did same early this year. I lost #300k in one of my bank stock #500k investment over a period of 17 years.
But don't put more than 30% in crypto because of the high volatility. I will advice you put 70% in bonds, tbills and fixed income investments since they are secured even if the yield is not high.
You're right, Bro.
I am actually doing that crypto thing with the highest caution smiley
I am into Nigerian fixed income investment but for the stocks, I am going out of Nigeria cool

2 Likes

Re: Inflation, Devaluation Push Millennials Away From ₦20 Trillion Stock Market by yusluvad(m): 7:54am On Jun 15, 2021
All are products of bad governance...
Yankee101:
Low Rate of return,
Inflation,
Devaluation,
Poor governance, government and
Lack of integrity
Re: Inflation, Devaluation Push Millennials Away From ₦20 Trillion Stock Market by LagbajaTheBEREAN: 7:58am On Jun 15, 2021
Whois:
Some Nigerians believe the FGN is their enemy. Who buys from their enemy?
But we all know they are...
Re: Inflation, Devaluation Push Millennials Away From ₦20 Trillion Stock Market by SocialJustice: 8:01am On Jun 15, 2021
Storing your money in naira assets is stupid and should be avoided at all cost.

Devaluation and inflation will ruin your portfolio. Cryptocurrencies are the easiest way to store your money in dollars.
Re: Inflation, Devaluation Push Millennials Away From ₦20 Trillion Stock Market by khalids: 8:03am On Jun 15, 2021
Kubernetes:
During Soludo in 2007, I used #500,000 to buy 15,000 units of first bank shares at #33/share. Today the bonuses I got has increased it to 27,000 units. Now that the share price of the bank is #7.1/share, the value of my investment is less than #200,000 giving me a huge loss of of my investment in 17 years. What a loss in my investment!!!!! Imagine if I had bought a piece of land with the money, I am sure the value will now be over 100%

Bros...you see that period heen.....the stock market just scammed people...there was huge inflow of funds...A lot of people bought shares within that period.....I bought from seven different companies spread across different industries. 50% of my income was going into shares, at the end of the day non is performing even after 17years......

Naija shares na scam....don't even waste your time....banks will be posting huge end-of-year profit, Dangote will be claiming billionaire status....people who are shareholders will be posting loss.....nonsense

They have broken the trust millennials gave them, and it cannot be returned. Me i don move go NYSE via bamboo...As they devalue naira i make more money....I no fit shout abeg

1 Like

Re: Inflation, Devaluation Push Millennials Away From ₦20 Trillion Stock Market by Nobody: 8:07am On Jun 15, 2021
Who still puts money in nigerian stocks?
Re: Inflation, Devaluation Push Millennials Away From ₦20 Trillion Stock Market by Nobody: 8:08am On Jun 15, 2021
Kubernetes:
During Soludo in 2007, I used #500,000 to buy 15,000 units of first bank shares at #33/share. Today the bonuses I got has increased it to 27,000 units. Now that the share price of the bank is #7.1/share, the value of my investment is less than #200,000 giving me a huge loss of of my investment in 17 years. What a loss in my investment!!!!! Imagine if I had bought a piece of land with the money, I am sure the value will now be over 100%

Imagine buying some foreign stocks then
Wonder the value today

2 Likes 1 Share

Re: Inflation, Devaluation Push Millennials Away From ₦20 Trillion Stock Market by BOSSFX: 8:17am On Jun 15, 2021
Hmm.

1 Like

Re: Inflation, Devaluation Push Millennials Away From ₦20 Trillion Stock Market by authority2006(m): 8:26am On Jun 15, 2021
Yankee101:
Low Rate of return,
Inflation,
Devaluation,
Poor governance, government and
Lack of integrity

Plus
MMM
Crypto
Digital Farming
E Cooperative
And other shiity investments. It all boils down to Get Rich Quickly Syndrome

1 Like 1 Share

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