ChybuzzDD:


I hope you know the connterparts of these your 'big banks' abroad in developed economies don't charge upto thst 1.5% for the entire year?

Why are you not seeing 1.5% per month as being excessive for a struggling economy?
Shouldn't banks in such an economy offer a lower interest rate relative to those of the first world economy?
No, you won't support that, because you need their outrageous earnings to get higher dividends.
Your position shows how selfish an average Nigerian is, and hence, the reason the country's economy will perpetually remain in the woods.

Your politicians are not selfish, ba?!

IyaTola:
Your politicians are not selfish, ba?!

Madam, you sef like turobu.

He expressed his opinion, which he is entitled to.

Some comments don't deserve a reply.

To everyone bashing Pa Emma, we need to understand that no one owes us anything and we must take full responsibility for our lives. Nobody benefits from a sense of entitlement. We need to think out of the box and stop making excuses.

Only the right policies from the regulatory body(CBN) can fix things that we feel are not right in the banking industry. But before then, are we meant to stop investing? I don't think so.

Hello bosses in the house can someone verify the authenticity of this?

And what necessary Enquiry do i need to make?

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Both greedy and selfish can be termed similarly in the context you used the word. In general in business everyone is "selfish"

ChybuzzDD:


The word "greedy" did not appear in my write-up, man
Being "selfish" is not synonymous with being "greedy" in the context used.

seyisanya:
To everyone bashing Pa Emma, we need to understand that no one owes us anything and we must take full responsibility for our lives. Nobody benefits from a sense of entitlement. We need to think out of the box and stop making excuses.

Only the right policies from the regulatory body(CBN) can fix things that we feel are not right in the banking industry. But before then, are we meant to stop investing? I don't think so.

Two of the people bashing the banks for charging interest of 1.5% per month, invested in MBA forex hoping to be paid 15% per month.

Who does not know that MBA forex is a scam.

Maxwell could easily get a loan at 18% per annum, instead of paying 180% to the so called Investors.

I guess they have not gotten over their losses in MBA forex scam, hence they are transferring their frustrations and agreession to banks claiming to be defending poor and helpless Nigerians

Reeefe:
Hello bosses in the house can someone verify the authenticity of this?

And what necessary Enquiry do i need to make?

Invest in them and when they refuse to pick your call or respond to your mails and finally block you from commenting on their social media platforms let me know

Dominionsamuel:
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Tell your family and friends about it.

Up

emmanuelewumi:


Two of the people bashing the banks for charging interest of 1.5% per month, invested in MBA forex hoping to be paid 15% per month.

Who does not know that MBA forex is a scam.

Maxwell could easily get a loan at 18% per annum, instead of paying 180% to the so called Investors.

I guess they have not gotten over their losses in MBA forex scam, hence they are transferring their frustrations and agreession on banks claiming to be defending poor and helpless Nigerians

How can someone begrudge another person for investing in stock, a global type of investment allover the world. I found that statement strange. Everyone is even supposed to be happy that banks make profit because once they start running at a loss, it will be the many depositors that will be worse hit when such banks fold up. Many of those depositors will be we poor people that those guys claim to be fighting for.

Are you saying they invested in MBA, one of the guys says he is in Europe, you mean even with such enlightenment? I wonder who is more greedy between the man who wants his money doubled vs the one who invested in a business in the NSE. Strange

emmanuelewumi:


Two of the people bashing the banks for charging interest of 1.5% per month, invested in MBA forex hoping to be paid 15% per month.

Who does not know that MBA forex is a scam.

Maxwell could easily get a loan at 18% per annum, instead of paying 180% to the so called Investors.

I guess they have not gotten over their losses in MBA forex scam, hence they are transferring their frustrations and agreession on banks claiming to be defending poor and helpless Nigerians

emmanuelewumi:


Two of the people bashing the banks for charging interest of 1.5% per month, invested in MBA forex hoping to be paid 15% per month.

Who does not know that MBA forex is a scam.

Maxwell could easily get a loan at 18% per annum, instead of paying 180% to the so called Investors.

I guess they have not gotten over their losses in MBA forex scam, hence they are transferring their frustrations and agreession on banks claiming to be defending poor and helpless Nigerians

....I dislike headaches...

ojesymsym:
How can someone begrudge another person for investing in stock, a global type of investment allover the world. I found that statement strange. Everyone is even supposed to be happy that banks make profit because once they start running at a loss, it will be the many depositors that will be worse hit when such banks fold up. Many of those depositors will be we poor people that those guys claim to be fighting for.

Are you saying they invested in MBA, one of the guys says he is in Europe, you mean even with such enlightenment? I wonder who is more greedy between the man who wants his money doubled vs the one who invested in a business in the NSE. Strange

They will soon come after you oo

For me, am happy the banks are making money for their shareholders period...

Despite the pandemic, Zenith made an impressive performance in FY2020...I give kudos to the management of the bank.

...waiting for ACCESS, UBA, GTBANK, FBNH etc

DigitalMallam:

Do you have the details of how I can get the bolded, contact or Link

were you sent any link by pa emma on this? if yes I would like to see one

We learn everyday, if it is too good to be true then it can't be true.

I don't know who is more greedy between the banks and Nigerians looking for 15% per month upandan

I remember how they attacked Ahib for opening a thread, where he advised them on the dangers of Investing in the likes of MBA forex, Bara and other Ponzi schemes.

They didn't listen because of their greed, selfishness and quest for money at the speed of lightning.

He who comes to equity, should come with clean hands. Some of us do worst things to the so called poor Nigerians in our private life and businesses, but will come online that they are defending them.

Reeefe:
Hello bosses in the house can someone verify the authenticity of this?

And what necessary Enquiry do i need to make?

Where is this located?

Please do your due diligence .

The rental income is too good to be true

emmanuelewumi:
We learn everyday, if it is too good to be true then it can't be true.

I don't know who is more greedy between the banks and Nigerians looking for 15% per month upandan

I remember how they attacked Ahib for opening a thread, where he advised them on the dangers of Investing in the likes of MBA forex, Bara and other Ponzi schemes.

They didn't listen because of their greed, selfishness and quest for money at the speed of lightning.

He who comes to equity, should come with clean hands. Some of us do worst things to the so called poor Nigerians in our private life and businesses, but will come online that they are defending them.

Emefiele say Nigeria will be selling crude to Dangote (and possibly BUA) in Naira. He says we will save the fx used in importing refined products and paying subsidy. But I’m seriously wondering if this makes sense given the fx revenue we will forgo when we sell this crude to them in Naira

Currently, Naija spends between USD10bn and USD12bn to import refined products and pay subsidies. But at $65 per barrel for crude, Naija will forgo close to USD13bn in Fx when it sells 650,000 bpd of crude to just Dangote in Naira

Some people will say this 650k barrels of crude is additional to the 2m we export. Okay. So where will the extra 650k come from? Current OPEC quota will not last forever. Right now, we do not have the capacity to produce more than 2m and it takes several years for the oil companies to ramp up. Dangote’s OML 27 is currently at only 20k barrels per day and will take a couple of years to ramp up to 100k barrels. Talk less of 650k barrels

Then let’s not forget that Dangote will have to pay back well over USD6bn to banks that lent him money for the project, he has to pay huge USD salaries to his expatriate staff and he has to buy spare parts from overseas countries. This USD will have to come from somewhere. Maybe from Dangote’s fx revenues from his other export businesses or maybe from Fx from the excess refined products he will export to neighboring countries or maybe from the CBN..hmmm

Let’s hope Dangote does not buy crude in NGN and then exploit loopholes in the Naija system to focus on exporting refined products to other countries as this is where the real money is. Let’s also hope he’s not using this whole refinery business to corner the fuel importation market in Naija. That would be mad o

On another note, I dey pity people wey go dey do daily commute on that tight Lekki road when the refinery begins full operations and hundreds of tankers with petrol start plying that tiny road. You think Apapa is bad? You ain’t seen nothing yet

Me I’m just thinking aloud o. Wetin concern common man with refinery when petrol price keeps going up? And they say Dangote will be selling at international market prices. Imagine

Thankfully, I no get any business with that Lekki road. I try my possible best to avoid that road. But wait o, no be only Lekki road go hear am oooo...

emmanuelewumi:



Where is this located?

Please do your due diligence .

The rental income is too good to be true

Jibowu yaba Lagos Nigeria

LauraClasikVibe:
Invest in them and when they refuse to pick your call or respond to your mails and finally block you from commenting on their social media platforms let me know

Hmmm .
How about investing in it to stay?

Very True.

emmanuelewumi:
We learn everyday, if it is too good to be true then it can't be true.

I don't know who is more greedy between the banks and Nigerians looking for 15% per month upandan

I remember how they attacked Ahib for opening a thread, where he advised them on the dangers of Investing in the likes of MBA forex, Bara and other Ponzi schemes.

They didn't listen because of their greed, selfishness and quest for money at the speed of lightning.

He who comes to equity, should come with clean hands. Some of us do worst things to the so called poor Nigerians in our private life and businesses, but will come online that they are defending them.

Emefiele made the disclosure on Saturday during an inspection tour of the sites of Dangote Refinery, Petrochemicals Complex Fertiliser Plant and Subsea Gas Pipeline projects at Ibeju Lekki, Lagos.

The CBN governor noted that the 15 billion dollar projects being constructed by the Dangote Group would save Nigeria from expending about 41 per cent of its foreign exchange on importation of petroleum products.

Emefiele said: ”Based on agreement and discussions with the Nigerian National Petroleum Corporation and the oil companies, the Dangote Refinery can buy its crude in naira, refine it, and produce it for Nigerians’ use in naira.

“That is the element where foreign exchange is saved for the country becomes very clear.

“We are also very optimistic that by refining this product here in Nigeria, all those costs associated with either demurrage from import, costs associated with freight will be totally eliminated.

“This will make the price of our petroleum products cheaper in naira.

“If we are lucky that what the refinery produces is more than we need locally you will see Nigerian businessmen buying small vessels to take them to our West African neighbours to sell to them in naira.

“This will increase our volume in naira and help to push it into the Economic Community of West African States as a currency,” Emefiele said.

Emefiele expressed optimism that the refinery would be completed by the first quarter of 2022, adding that this would put an end to the issue of petrol subsidy in the country.

“I am saying that by this time next year, our cost of import of petroleum products for petrochemicals or fertiliser will be able to save that which will save Nigeria’s reserve


Question: What are your thoughts regarding this w.r.t the naira in the medium term

There is nothing wrong with Dangote's refinery paying for crude in naira.
In theory.
After all CBN has an official exchange rate for the naira against the USD, and this is presumably what it will be asked to pay. CBN also converts fx revenues from oil sales into naira at the official exchange rate, so theoretically this is fine.

In practice, with the way the government is fawning over this refinery project, messing up with the currency and given that it actually made this announcement, one cannot help but think there's going to be some exchange rate leveraging going on in this whole transaction.

Reeefe:


Jibowu yaba Lagos Nigeria

The price is too good to be true for real estate Investments in that part of Lagos.

I wish you good luck

emmanuelewumi:



The price is the too good to be true for real estate Investments in that part of Lagos.

I wish you good luck

I don run ohh

ojesymsym:
How can someone begrudge another person for investing in stock, a global type of investment allover the world. I found that statement strange. Everyone is even supposed to be happy that banks make profit because once they start running at a loss, it will be the many depositors that will be worse hit when such banks fold up. Many of those depositors will be we poor people that those guys claim to be fighting for.

Are you saying they invested in MBA, one of the guys says he is in Europe, you mean even with such enlightenment? I wonder who is more greedy between the man who wants his money doubled vs the one who invested in a business in the NSE. Strange

A fool will always be a fool.

Some do choose to learn from their mistakes.

yazga:
A fool will always be a fool.

Well, if the reserve fx application to refined petroleum products is true and if the refinery does come on-stream in due course, one may expect the Naira to appreciate in the future. However, in my 50 years, I have found Nigeria defies logic. Thus not holding my breath. Besides sometimes you are told our crude is swapped for imported refined products with international oil companies (IOCs) and if that has truly been the case our reserves should never have been challenged. So you have to wonder what truly has our fx reserves been spent on all these years (perhaps pilfered)? Nevertheless, I do hope I am wrong and that on this occasion, Nigeria will be able to see an ongoing accretion to our fx reserves and exchange rate. I am all for a strong Naira but the reality is a strong Naira has eluded us for decades. As an aside Nigeria has four refineries that has not been allowed to function or function optimally and provide benefits to Nigerians or our fx reserves for decades but now the government and CBN wants us to believe the way to preserve our fx reserves is Dangote's refinery? and yet we have refineries!!!

Emndy:
Emefiele made the disclosure on Saturday during an inspection tour of the sites of Dangote Refinery, Petrochemicals Complex Fertiliser Plant and Subsea Gas Pipeline projects at Ibeju Lekki, Lagos.

The CBN governor noted that the 15 billion dollar projects being constructed by the Dangote Group would save Nigeria from expending about 41 per cent of its foreign exchange on importation of petroleum products.

Emefiele said: ”Based on agreement and discussions with the Nigerian National Petroleum Corporation and the oil companies, the Dangote Refinery can buy its crude in naira, refine it, and produce it for Nigerians’ use in naira.

“That is the element where foreign exchange is saved for the country becomes very clear.

“We are also very optimistic that by refining this product here in Nigeria, all those costs associated with either demurrage from import, costs associated with freight will be totally eliminated.

“This will make the price of our petroleum products cheaper in naira.

“If we are lucky that what the refinery produces is more than we need locally you will see Nigerian businessmen buying small vessels to take them to our West African neighbours to sell to them in naira.

“This will increase our volume in naira and help to push it into the Economic Community of West African States as a currency,” Emefiele said.

Emefiele expressed optimism that the refinery would be completed by the first quarter of 2022, adding that this would put an end to the issue of petrol subsidy in the country.

“I am saying that by this time next year, our cost of import of petroleum products for petrochemicals or fertiliser will be able to save that which will save Nigeria’s reserve


Question: What are your thoughts regarding this w.r.t the naira in the medium term

Godbpraised:
Oga relax, do not be too confrontational in your discuss toned down a bit . she is just telling you how the credit system works No one is fighting anyone
we are here to learn oga sah.

emmanuelewumi:
Mail from an Investment Banking firm yesterday

From which please, if you don't mind sir.?

Lagosinter1:


From which please, if you don't mind sir.?

Talk to your Stockbroker or Investment advisers, they will make recommendations.