bjtinz:


Lol. They should drop the lending rates naa. People will come forward

GTBank sent a mail to me yesterday about the new lending rate at 16% per annum

akpumpy:

GTBank sent a mail to me yesterday about the new lending rate at 16% per annum

Not bad

Jejebabaa:
Here you go guys

And they are still oversubscribed, it will soon come down to 1%

Infinitisi:


You can try Everdon BDC. I reside in Abuja and they are located in Lagos. I have never been to their office before and I have used then severally in the last 1 year.

Contact them using the details on their website everdonbdc.com and once you complete your kyc documentation all you need to do is credit their naira Account and they will credit your dorm account with the dollars.

Thanks

emmanuelewumi:



Not bad

emmanuelewumi:



Not bad

Haaa ... still BAD when TBills and FDeposits are nose diving down 3% �

akpumpy:

GTBank sent a mail to me yesterday about the new lending rate at 16% per annum

Yes, at 1.33% per month.

akpumpy:

GTBank sent a mail to me yesterday about the new lending rate at 16% per annum

Also got a mail that their quick loan has now dropped from 1.75%/month to 1.33%/month. The competition for rate crash has begun. I expect other banks to follow otherwise, GTB will clear all the customers especially salary earners.

People are still over subscribing, look at the 91 days bills with over subscription of 10 times even at last stop rate of 3 percent.

I read today the Naija govt plans to raise N510 billion and issue a bond this January on a 5 year period at 12 percent, I believe that will be a better offer compared to these TBills 6 percent. On the contrary, a huge storm is coming, one way or the other the govt. may find it difficult with repayments, the Naija govt. spending is out of control, the economic solution for the ministers instigated by the former UK based Finance minster is to "Borrow borrow and borrow", by the time subscription reduces drastically for certain investment then the previous investors who are supposed to be paid with money from new investors need to start worrying about their money, it will then be a legal MMM.

Once an investment stops attracting new investors, then there is need to worry but for now there seem to be lots of investors chasing Tbills even at the low rates, let us keep our eyes open.

Jejebabaa:
Here you go guys

TotoNaRubber:
People are still over subscribing, look at the 91 days bills with over subscription of 10 times even at last stop rate of 3 percent.

I read today the Naija govt plans to raise N510 billion and issue a bond this January on a 5 year period at 12 percent, I believe that will be a better offer compared to these TBills 6 percent. On the contrary, a huge storm is coming, one way or the other the govt. may find it difficult with repayments, the Naija govt. spending is out of control, the economic solution for the ministers instigated by the former UK based Finance minster is to "Borrow borrow and borrow", by the time subscription reduces drastically for certain investment then the previous investors who are supposed to be paid with money from new investors need to start worrying about their money, it will then be a legal MMM.

Once an investment stops attracting new investors, then there is need to worry but for now there seem to be lots of investors chasing Tbills even at the low rates, let us keep our eyes open.

I laughed reading this. My exact thoughts Trust Nigerian to overflog and destroy things when they discover its benefits

Which storm?
I struggle to follow your logic here. Will government not find it easier to pay this lower rate compared to the 15% previous rates?
That people are still over subscribing suggest that people have not yet found a reliable alternative.
Also, I don't think bond will still be as high as 12%, government have seen that they can get low interest loans, they will pursue it to the end. I expect bonds to play around 8 to 9% for now, could be wrong though.

TotoNaRubber:
People are still over subscribing, look at the 91 days bills with over subscription of 10 times even at last stop rate of 3 percent.

I read today the Naija govt plans to raise N510 billion and issue a bond this January on a 5 year period at 12 percent, I believe that will be a better offer compared to these TBills 6 percent. On the contrary, a huge storm is coming, one way or the other the govt. may find it difficult with repayments, the Naija govt. spending is out of control, the economic solution for the ministers instigated by the former UK based Finance minster is to "Borrow borrow and borrow", by the time subscription reduces drastically for certain investment then the previous investors who are supposed to be paid with money from new investors need to start worrying about their money, it will then be a legal MMM.

Once an investment stops attracting new investors, then there is need to worry but for now there seem to be lots of investors chasing Tbills even at the low rates, let us keep our eyes open.

ojesymsym:
Which storm?
I struggle to follow your logic here. Will government not find it easier to pay this lower rate compared to the 15% previous rates?
That people are still over subscribing suggest that people have not yet found a reliable alternative.
Also, I don't think bond will still be as high as 12%, government have seen that they can get low interest loans, they will pursue it to the end. I expect bonds to play around 8 to 9% for now, could be wrong though.

I choose to stick with both sides of the divide but lean more towards TotoNaRubber comment. Oversubscription has always lead to abuse of resources, unless there's an abundance of mega projects which there are, but then the readiness to receive them. We discussed on these issues at length last year when we we're yapping about the dropping tbills rates. It doesn't makes complete sense to me if tbill rates are killed, but then we need more funds and head for more funds though, with crazily low returns. The government needs to be resolute about what it wants and channel incentives towards its objectives. In the current dilly dallying between the need for funds, lowering rates, seeking mega loans and trying to boost the economy, there's a clear lack of well defined structure and pathway towards any blueprint that's if any exists.


This is pure voodoo economics bro, kick and follow. Anywhere belle face

akpumpy:

Haaa ... still BAD when TBills and FDeposits are nose diving down 3% �

16% is not bad.

If it is an overdraft of 91 days, you will end up paying about 4%. Any businessman who knows his business well should be able to make returns of over 4% in 3 months.


Yet uninformed people are still getting loans at over 35% from microfinance banks and unregulated money lenders

TotoNaRubber:
People are still over subscribing, look at the 91 days bills with over subscription of 10 times even at last stop rate of 3 percent.

I read today the Naija govt plans to raise N510 billion and issue a bond this January on a 5 year period at 12 percent, I believe that will be a better offer compared to these TBills 6 percent. On the contrary, a huge storm is coming, one way or the other the govt. may find it difficult with repayments, the Naija govt. spending is out of control, the economic solution for the ministers instigated by the former UK based Finance minster is to "Borrow borrow and borrow", by the time subscription reduces drastically for certain investment then the previous investors who are supposed to be paid with money from new investors need to start worrying about their money, it will then be a legal MMM.

Once an investment stops attracting new investors, then there is need to worry but for now there seem to be lots of investors chasing Tbills even at the low rates, let us keep our eyes open.

People buying are not you and I, they are fund managers they are more concerned about the stability of their funds. They have funds in Treasury Bills, fixed deposit, bonds, real estate, stocks etc.

It is better to put funds that will be used to pay retirees in the next 4 months in Treasury Bills or fixed deposit.

By the second quarter of the year, they would have gotten an idea of the direction of the economy

They have channelled substantial amount of funds into the stock market in the last couple of weeks.

Is it advice able for one to change all this raw naira cash to dollars or euros and keep, rather than keeping raw naira. As the news of devaluation of naira continues to increase. Please i need advice on this. PLEASE

Good day narialanders,
I went to FBNquets office in Maitama since Monday morning to fill out the necessary form for MMF, till date now response. I called the rep that attended to me, she promised that at the end of today 15/01/2020 it will be processed and it has not be processed.
My questions is can I move to stanbic or even something else?
Also with these NEWLY advertised fg bond, what is the lowest amount and can I get it in commercial bank, if no where can I get it?

IyawoTobe warned me oooo, though it can late.

Pakele09:
Is it advice able for one to change all this raw naira cash to dollars or euros and keep, rather than keeping raw naira. As the news of devaluation of naira continues to increase. Please i need advice on this. PLEASE

Nigeria isn't breaking up pretty soon. Neither is the Naira. Well. That was pure pun If I were in your place, I'll consider putting the dollars in a dollar dominated investment. This way you appreciate its value, and adding the additional value it gets from the investment, you get two things, the investment profit and the appreciation increase in the event of naira devaluation against the dollar however slight

Abeg, who will mentor me? I need to start trading in stock. I’m opening an account next week. Someone please help me learn the ropes.

cucumbar:
Abeg, who will mentor me? I need to start trading in stock. I’m opening an account next week. Someone please help me learn the ropes.

where do you reside?

aimuan:
where do you reside?

i stay in the east

TotoNaRubber:
People are still over subscribing, look at the 91 days bills with over subscription of 10 times even at last stop rate of 3 percent.

I read today the Naija govt plans to raise N510 billion and issue a bond this January on a 5 year period at 12 percent, I believe that will be a better offer compared to these TBills 6 percent. On the contrary, a huge storm is coming, one way or the other the govt. may find it difficult with repayments, the Naija govt. spending is out of control, the economic solution for the ministers instigated by the former UK based Finance minster is to "Borrow borrow and borrow", by the time subscription reduces drastically for certain investment then the previous investors who are supposed to be paid with money from new investors need to start worrying about their money, it will then be a legal MMM.

Once an investment stops attracting new investors, then there is need to worry but for now there seem to be lots of investors chasing Tbills even at the low rates, let us keep our eyes open.

I also read about the new bond rate of 12%+. Could that be for real or it's at premium?
On the the other hand, if the FGN have been able to be faithful with rate @ around 10-13% over the years, it is even easier for them now that the rates are halved. If the appetite for their present low rates drops, they possibly will raise it to encourage the desired subscription. Also, the investment of the funds over the years could generate sizable returns that could go a long way in subsequent repayments. So, defaulting is almost not in foresight unless the country is in a state of dissolution.
For the present low rate, the fed is actually making a kill; a very favourable moment for the FG.

Legendguru:


Tell that bro again 18m can build 2 and half of that bro. You need to learn about construction do not contract out buy most of your projects materials yourself. I spent 6.2m to raise mine up and fully roofed with step tiles .another 2.4m will do all finishing including boreholes tiling pop doors wiring and more

8.6m in total did
you include the paper work and misallenous?

emmanuelewumi:



16% is not bad.

If it is an overdraft of 91 days, you will end up paying about 4%. Any businessman who knows his business well should be able to make returns of over 4% in 3 months.


Yet uninformed people are still getting loans at over 35% from microfinance banks and unregulated money lenders

Those people are mostly petty traders. Market women, barbers e.t.c.

I stand to be corrected but I doubt there's any bank that will give them loans.

Can one buy TB of 1b naira?

DaBogu:
8.6m in total did
you include the paper work and misallenous?

I have built already before starting my approval doc I paid omo onile about 280k in total

Approval doc total estimate to cost 325k

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Legendguru:


I have built already before starting my approval doc I paid omo onile about 280k in total

Approval doc total estimate to cost 325k

Location?

Pakele09:
Is it advice able for one to change all this raw naira cash to dollars or euros and keep, rather than keeping raw naira. As the news of devaluation of naira continues to increase. Please i need advice on this. PLEASE

Whatever makes you sleep well at night O... for what shall it gain a man to change all his Naira to forex and still get robbed of all of it at home ??!!

On a serious note, it is actually not a bad idea...

Rodddy:
Can one buy TB of 1b naira?

You can buy, provided the source is legitimate.

Rodddy:
Can one buy TB of 1b naira?

Can you do buy back with our company?

emmanuelewumi:


You can buy, provided the source is legitimate.

Who would confirm the source?

Oceannaagent:

Can you do buy back with our company?

Someone was talking about confirmation of source?

Rodddy:

Who would confirm the source?

The bank and EFCC