ahiboilandgas:
that not a reliable and lasting source....there must be a margin from bulk dealer to the retailer....any time i refill from major depot compared to Neigbourhood retailers a 400 naira per 12.5 kg is there

yea boss, that's why i said compliment...……….personally i get small quantities of ago at really cheap prices from this telecom switch centre suppliers.

AGO of N180/l, could be as low as N120/l. thing is , they aren't reliable like u said

Phyde:

Maxyield Savings ? And when did it dropped ?

Just savings account. Dropped yesterday. Last day of month

zamirikpo:


yea boss, that's why i said compliment...……….personally i get small quantities of ago at really cheap prices from this telecom switch centre suppliers.

AGO of N180/l, could be as low as N120/l. thing is , they aren't reliable like u said

na my Ago ,i carry 180,000litres go lokoja for Glo ....shortage pass 2000 litres

Satoshi2019:


Just savings account. Dropped yesterday. Last day of month

I have not been getting interest for the past 2 months on my maxyield savings account. Will check my my account statements first before lodging complain.

emmanuelewumi:


If the fund is up to N5 million, buy FG bond in the secondary market through Stanbic IBTC. You should be able to get 10%

Sir, it's very difficult to get the bond from stanbic right now. They keep u on queue for ever and at the end, they will ask u to hold on why they book u in from CBN, i do not understand them this days. It's so frustrating, maybe Covid19 contributed to the recent misbehavior.

emmanuelewumi:


If the fund is up to N5 million, buy FG bond in the secondary market through Stanbic IBTC. You should be able to get 10%

what tenure?

ahiboilandgas:
na my Ago ,i carry 180,000litres go lokoja for Glo ....shortage pass 2000 litres

As long as their is diesel to sell, their must be buyer.

Sorry to drift a bit, pls economic forecaster, who knows the implications of this partial lockdown (from 4th may) on dollar, is it a good time to sell or still wait it out?

Nyxx123:
Sorry to drift a bit, pls economic forecaster, who knows the implications of this partial lockdown (from 4th may) on dollar, is it a good time to sell or still wait it out?

Bros if you have USD I think you should sell it, I do think that USD still start dropping from next week with CBN resuming provision of Forex to BCDs.
Caveat: Am not an economist so you may actually not find this useful

ojeysky:


Bros if you have USD I think you should sell it, I do think that USD still start dropping from next week with CBN resuming provision of Forex to BCDs.
Caveat: Am not an economist so you may actually not find this useful

Backlog of demand will make whatever intervention they do useless this early weeks and I don't think the CBN has what it takes to continue that intervention they were doing.It looks like scare tactics to me.
I too don't support hedging by keeping fx,very risky thing to do.

Theconglomerate:
Backlog of demand will make whatever intervention they do useless this early weeks and I don't think the CBN has what it takes to continue that intervention they were doing.It looks like scare tactics to me.
I too don't support hedging by keeping fx,very risky thing to do.

Please, why's the bolded risky? Started doing it recently. Let me know if I should stop or continue.

Grupo:


Please, why's the bolded risky? Started doing it recently. Let me know if I should stop or continue.

Money can either appreciate or depreciate,especially in Nigeria that don't have a true value for their currency.
You can buy dollar today at 450 and keep then CBN come with their interventions and push it to 383 on wednesday morning
You go dey cry like pussycat throughout that week.
And the funny thing be say everyone will be offloading at the same time so much so that you will have to sell lower than new market price sef to see your naira back.
All abokis go dey tell you say "I no want am"
Hoarding fx and foreign debt has killed more people in Nigeria than AIDS

Theconglomerate:
Money can either appreciate or depreciate,especially in Nigeria that don't have a true value for their currency.
You can buy dollar today at 450 and keep then CBN come with their interventions and push it to 383 on wednesday morning
You go dey cry like pussycat throughout that week.
And the funny thing be say everyone will be offloading at the same time so much so that you will have to sell lower than new market price sef to see your naira back.
All abokis go dey tell you say "I no want am"
Hoarding fx and foreign debt has killed more people in Nigeria than AIDS

That's true. But do you think that the CBN can keep up with defending the naira considering the recent fall in oil price?

Grupo:


That's true. But do you think that the CBN can keep up with defending the naira considering the recent fall in oil price?

No one can answer this.
Even BDC people are scared,reason why it dropped to 450 on Thursday,everyone wants to offload.

My take is if this is money you may need in the next 6 months,sell.
If not,keep it in hard currency in your wardrobe.

I think Nigeria will try to defend for as long as it can . They ll do this because of optics. They are borrowing now in order to do this so Naira will fall. But I see further devaluation on the horizon.

I wouldn't buy any more either. wait till it gets cheaper.

missjekyll:
My take is if this is money you may need in the next 6 months,sell.
If not,keep it in hard currency in your wardrobe.

I think Nigeria will try to defend for as long as it can . They ll do this because of optics. They are borrowing now in order to do this so Naira will fall. But I see further devaluation on the horizon.

I wouldn't buy any more either. wait till it gets cheaper.

Why inside wardrobe? I have some in wardrobe and some in dorm account.

Grupo:


That's true. But do you think that the CBN can keep up with defending the naira considering the recent fall in oil price?

The CBN does not have what it takes to keep defending the naira at this period in time.
The rule is not to buy high.

pluto09:



The CBN does not have what it takes to keep defending the naira at this period in time.
The rule is not to buy high.

How do you know this?

yomi007k:


Why inside wardrobe? I have some in wardrobe and some in dorm account.

kikiki. pray one million boys dont come. if it's in a bank,pray Lebanon doesnt happen here.

Go front no good,turn back no good.

missjekyll:
My take is if this is money you may need in the next 6 months,sell.
If not,keep it in hard currency in your wardrobe.

I think Nigeria will try to defend for as long as it can . They ll do this because of optics. They are borrowing now in order to do this so Naira will fall. But I see further devaluation on the horizon.

I wouldn't buy any more either. wait till it gets cheaper.

Regarding the emboldened, i think you meant "politics" and "dollar", right?

odimbannamdi:


Regarding the emboldened, i think you meant "politics" and "dollar", right?

optics means how things look. everyone will be up in arms if the dollar shoots up to 600.

They will defend the naira making the naira to go up in value. that is exchange rate may go back to 380 but they cannot do this for long. the IMF is not a bottomless pit of money they can keep borrowing from. Venezuela's loan was recently rejected

missjekyll:


optics means how things look. everyone will be up in arms if the dollar shoots up to 600.

They will defend the naira making the naira to go up in value. that is exchange rate may go back to 380 but they cannot do this for long. the IMF is not a bottomless pit of money they can keep borrowing from. Venezuela's loan was recently rejected

Well said. The IMF attached conditions to this loan, including exchange rate harmonisation. If they are serious about that, they might insist on disbursing the loan in tranches, to enforce compliance (done in other instances with other countries where loans were made conditional as well). In such case, another "technical" devaluation of the naira may occur.

No-one can predict, but in any case, I do agree that they can't continue defending the naira for long. Oil prices will rebound eventually when the world's economies restart, possibly giving us some respite, but I'll be surprised if a devaluation hasn't happened by the end of this year.

Theconglomerate:
How do you know this?

Oil price and fx reserve.

In December last year,reserve was above $38b. The reserve is currently just above $33b.
We burnt more than $5b in four months. That is one of the reasons they stopped selling dollars to bdc but they will not tell us this.
The CBN was forced to do the last adjustment from 305 to 365 or there about because they are Short of dollars. The reprive we have got now is the $3.4b from IMF and I know IMF will not allow them to waste that one on defending the naira.

If oil price stays low for a long period another round of devaluation is inevitable.

pluto09:



Oil price and fx reserve.

In December last year,reserve was above $38b. The reserve is currently just above $33b.
We burnt more than $5b in four months. That is one of the reasons they stopped selling dollars to bdc but they will not tell us this.
The CBN was forced to do the last adjustment from 305 to 365 or there about because they are Short of dollars. The reprive we have got now is the $3.4b from IMF and I know IMF will not allow them to waste that one on defending the naira.

If oil price stays low for a long period another round of devaluation is inevitable.

I agree with your theory but then,how do you explain the $100m pumped in mid this week?
Any ideas?
Also,what makes you think they can't sacrifice another 3-4 billion dollars from the reserve which will last throughout this year till the eventual rebound of oil price?

Theconglomerate:
I agree with your theory but then,how do you explain the $100m pumped in mid this week?
Any ideas?
Also,what makes you think they can't sacrifice another 3-4 billion dollars from the reserve which will last throughout this year till the eventual rebound of oil price?

That is the issue. $100m is far less than the demand.If they are really serious, they should do $300m, they were doing $300 to $400m before.

pluto09:



That is the issue. $100m is far less than the demand.If they are really serious, they should do $300m, they were doing $300 to $400m before.

Well,it looks like you are right.
Let's be observant sha.
Thanks,sharp analysis.
I appreciate.

Theconglomerate:
Well,it looks like you are right.
Let's be observant sha.
Thanks,sharp analysis.
I appreciate.

I don't advise people to buy at any price o.
Those who understand the game bought at 360 and sold from 430. They are waiting for another opportunity to get in.

pluto09:


I don't advise people to buy at any price o.
Those who understand the game bought at 360 and sold from 430. They are waiting for another opportunity to get in.

Oh trust me I'm not buying.
There are other reasons why I asked.

Theconglomerate:
Oh trust me I'm not buying.
There are other reasons why I asked.

missjekyll:


optics means how things look. everyone will be up in arms if the dollar shoots up to 600.

They will defend the naira making the naira to go up in value. that is exchange rate may go back to 380 but they cannot do this for long. the IMF is not a bottomless pit of money they can keep borrowing from. Venezuela's loan was recently rejected

Venezuela's issue has ties to the political imbroglio in that country. For years the West has been mounting pressure on Nicholas Maduro to step down for their puppet and Obama wannabe, Guaido, so that they can have access to the country's resources. Anybody following happenings in that country won't be surprised by IMF's decision. It is just a way of tightening the noose on a country already suffering from multiple embargoes from the US. IMF's credit level has nothing to do with it

emmanuelewumi:



When Fashola was the governor of Lagos State, he revoked the certificate of occupancy of some real estate Investors at Magodo, Omole and other government estates because they didn't develop their property.

Did they get paid for their land or they lost their land just like that with no compensation? Ayam confused.

Nnamz:

Did they get paid for their land or they lost their land just like that with no compensation? Ayam confused.

You can't be paid. You bought the land more than 10 years ago, you did not take physical possession of the property.

Government now gave you a 90 days deadline of building the property or you lose the land at the expiration of the deadline.

The best bet is to sell the land if you can get a buyer. A buyer with money can build the property in 60 days.

Workmen will be on shift working day and night