silvoice:
We are in 2021 and this thread is already in 2024.

Very dry

Tobex4realTobex234:
Also for newbies here scared of fintechs. Your concerns are valid. But you should not be scared of only fintechs, but anywhere you put your money.

That said, let me expatiate on what I mean by your investment journey should be self directed.

When you buy shares on Bamboo or Trove or Chaka, you don't fucking need a SEC approval. You can easily confirm that you own those shares by doing a check with the companies you have invested in (I always do this).

For all the stocks I've bought through Bamboo, I have verified them with the companies. Even my income fund in SFS through Cowrywise is verifiable.

So why the hell do you worry more about SEC approval of apps that only act as an interface more than the actual stocks or funds you have purchased.

Even N26 that is an actual digital bank recently closed down in the UK due to Brexit, and customer funds are accessible. N26 is even way riskier, yet people get their funds.

Don't let people that are buying the same funds as you oppress you into thinking the funds are not safe because you bought yours through an easier platform.

Remember, paper recharge card and USSD recharge na the same thing. No let anybody bobo you.

Sir, I sent you an email

Mukah1234:


Sounds interesting! I currently use Bamboo. Tried signing up on Trading 212 but got error message “country not supported”, I changed my country of residence to another country but I got another response that new account opening on Trading 212 has been paused.

Is there a way to go around this?

There's no way.

I honestly do not think Trading212 explicitly blocked Nigerians. What happened was that they experienced a huge number of signups and so had too many backlogs. Since there are AML checks they have to comply to, they had to stop registration to clear their backlog.

I know this because even on Reddit, many people faced the issue and none of them were Nigerians.

Mukah1234:


Hello,

Please what do you have to say about RiseVest?

In terms of the business model and their mission, yes it makes absolute sense. The fund is being run by Eke, who has worked in the U.S financial space before relocating to Nigeria. So newbies can definitely climb on the shoulder of someone more experienced to grow their wealth.

In terms of fund security, I am as clueless as you, because we/you don't actually own the stocks directly. Think of it as emmanuelewumi trading for you. Even though we verify the stocks owned by Rise, how can we/verify how much of that is ours/yours?

Personally though, I am willing to write Eke soon to enquire about the Real estate plans, as I don hit my max for U.S stocks this year

When a brand with over 50 years in existence offers you 7% for a year.....what do you do?


07067025384

Lovelygbems:
When a brand with over 50 years in existence offers you 7% for a year.....what do you do?


07067025384

We certainly don't call you.

einsteine:


We certainly don't call you.

Lovelygbems:
When a brand with over 50 years in existence offers you 7% for a year.....what do you do?


07067025384

Nothing good ever comes from this. Either way, someone loses, the caller or the callee....

Nigeria see your mate. For context, inflation in Kenya is around 5%.

But Nigeria with double digit inflation, they offer abysmal rates.

Disclaimer: I'm not recommending Kenyan bonds. I am not investing in it either. I am just passing out the information to re-inforce that current rates of bills and bonds in Nigeria are discouraging.

Tobex4realTobex234:


In terms of the business model and their mission, yes it makes absolute sense. The fund is being run by Eke, who has worked in the U.S financial space before relocating to Nigeria. So newbies can definitely climb on the shoulder of someone more experienced to grow their wealth.

In terms of fund security, I am as clueless as you, because we/you don't actually own the stocks directly. Think of it as emmanuelewumi trading for you. Even though we verify the stocks owned by Rise, how can we/verify how much of that is ours/yours?

Personally though, I am willing to write Eke soon to enquire about the Real estate plans, as I don hit my max for U.S stocks this year

It’s not about working in the US. Anybody can claim to have worked in the US. Ask him what he did in the US before coming to Nigeria to start taking money from people in the name of investing. Nigerians need to start doing better DD.

I pity those people giving their money to people to invest without doing full DD on those people. Premium tears loading….

Tobex4realTobex234:
Nigeria see your mate. For context, inflation in Kenya is around 5%.

But Nigeria with double digit inflation, they offer abysmal rates.

Greetings sir. What are the procedures in investing in Kenya government bond?

Tobex4realTobex234:
Nigeria see your mate. For context, inflation in Kenya is around 5%.

But Nigeria with double digit inflation, they offer abysmal rates.

Greetings sir. What are the procedures in investing in Kenya government bond? Thanks

Lazyyouth4u:


It’s not about working in the US. Anybody can claim to have worked in the US. Ask him what he did in the US before coming to Nigeria to start taking money from people in the name of investing. Nigerians need to start doing better DD.

I pity those people giving their money to people to invest without doing full DD on those people. Premium tears loading….

A US returnee earned N100 million as the CEO of a quoted company in Nigeria.He claimed to have worked in the various big organizations in the US. He earned this pay when N180 was equivalent to $1 and he was a Bachelor.

It took about 2 years before it was discovered that his work experience was a DJ and a Nite Club manager.

The guy was mouthed sha, he knows how to communicate and market himself well

emmanuelewumi:



A US returnee earned N100 million as the CEO of a quoted company in Nigeria.He claimed to have worked in the various big organizations in the US. He earned this pay when N180 was equivalent to $1 and he was a Bachelor.

It took about 2 years before it was discovered that his work experience was a DJ and a Nite Club manager.

The guy was mouthed sha, he knows how to communicate and market himself well

Naija can package sha....Boss Ewumi, please give us more hints about this person. A name perhaps.

Tobex4realTobex234:
Nigeria see your mate. For context, inflation in Kenya is around 5%.

But Nigeria with double digit inflation, they offer abysmal rates.

You are comparing apples to oranges. Wait until all those refugees from Ethiopia start flooding Kenya. Na then you go know say Naija no get mate for sub Saharan Africa. Just pray Ethiopian factions reach ceasefire very soon. Or else, the whole East Africa go hear ween.

Tobex4realTobex234:
Nigeria see your mate. For context, inflation in Kenya is around 5%.

But Nigeria with double digit inflation, they offer abysmal rates.

A rate of 12% today might come to hurt them later like we've seen in Nigeria and a number of countries especially if kept that high for long.
I still struggle to see why a central bank would be offering >10% rate on bonds to portfolio investors. Most of that new money injected does little or nothing to increase productivity..... New money should be tied to economic activity or infrastructure except we're saying the Kenyan economy or their central bank revenue is growing at >12% to be able to offset the debt without printing new money...

I've struggled to see any robust economy with current bond rates of more than 5%. Look at the US and most western nations, they've upped their budget by trillions to enable them spend significantly on infrastructure. Yet these nations largely retain close to zero or negative rates... Why is that the case? Mostly government rates there are tinkered with just to affect the larger borrowing rate and not to reward unproductive money sitting in the bank.


On the other hand, what I find impressive is their straightforward and easy onboarding process. Everything can be done easily within a banking app. Which still brings me to a previous point. The Nigerian financial markets can take a lesson and leverage technology to bring offerings directly to consumers on platforms they're already using.

EarlyCareer:


Naija can package sha....Boss Ewumi, please give us more hints about this person. A name perhaps.

I won't, it is one of the highly volatile stocks which Jijoist love..

The only clue I will give you is this, his first name and that of the company starts with the same letter

jedisco:


A rate of 12% today might come to hurt them later like we've seen in Nigeria and a number of countries especially if kept that high for long.
I still struggle to see why a central bank would be offering >10% rate on bonds to portfolio investors. Most of that new money injected does little or nothing to increase productivity..... New money should be tied to economic activity or infrastructure except we're saying the Kenyan economy or their central bank revenue is growing at >12% to be able to offset the debt without printing new money...

I've struggled to see any robust economy with current bond rates of more than 5%. Look at the US and most western nations, they've upped their budget by trillions to enable them spend significantly on infrastructure. Yet these nations largely retain close to zero or negative rates... Why is that the case? Mostly government rates there are tinkered with just to affect the larger borrowing rate and not to reward unproductive money sitting in the bank.


On the other hand, what I find impressive is their straightforward and easy onboarding process. Everything can be done easily within a banking app. Which still brings me to a previous point. The Nigerian financial markets can take a lesson and leverage technology to bring offerings directly to consumers on platforms they're already using.

Guy your essays are always too long and tiring to read abeg. Ah ah. These long epistles dey be like yamayama for person eyes na and I sure say many people dey jump and pass without bothering to read. Try to be brief and straight to the point jor

Labadi69:


Guy your essays are always too long and tiring to read abeg. Ah ah. These long epistles dey be like yamayama for person eyes na and I sure say many people dey jump and pass without bothering to read. Try to be brief and straight to the point jor

That guy is very smart.

Labadi69:


Guy your essays are always too long and tiring to read abeg. Ah ah. These long epistles dey be like yamayama for person eyes na and I sure say many people dey jump and pass without bothering to read. Try to be brief and straight to the point jor

Not really, I find his write up & a few others on this thread very interesting..I never even noticed it's long

Are you for real? How can you say this is long? He's making quality contributions in simple English language.

Labadi69:


Guy your essays are always too long and tiring to read abeg. Ah ah. These long epistles dey be like yamayama for person eyes na and I sure say many people dey jump and pass without bothering to read. Try to be brief and straight to the point jor

nextedge:
Are you for real? How can you say this is long? He's making quality contributions in simple English language.

Our countrymen don't like reading.

This is not a financial advise. I reckon you guys should look into Shiba inu token.

Quite right. Seconded. Many will be disappointed. History repeats itself

Lazyyouth4u:


It’s not about working in the US. Anybody can claim to have worked in the US. Ask him what he did in the US before coming to Nigeria to start taking money from people in the name of investing. Nigerians need to start doing better DD.

I pity those people giving their money to people to invest without doing full DD on those people. Premium tears loading….

Still on this US subject, I stumbled on the antiwork subreddit where Americans where bemoaning the fate of their country and how they are poorly paid, with many even calling their country a shithole and asking for Europe to colonize them.

I almost thought I was on nairaland.
It made me realize that maybe the true divide is between the haves and the haves not. All these issues about race, tribe, religion are just mere distractions.

One of Buffett's investment advice....

emmanuelewumi:




I won't, it is one of the highly volatile stocks which Jijoist love..

The only clue I will give you is this, his first name and that of the company starts with the same letter

Fair enough.

Keep sharing your wealth of knowledge. Your consistency here is well appreciated. We might not agree on a few areas, however, there is so much I and many others have learnt from you, emmanuelewumi.

Coolabbie:
Still on this US subject, I stumbled on the antiwork subreddit where Americans where bemoaning the fate of their country and how they are poorly paid, with many even calling their country a shithole and asking for Europe to colonize them.

I almost thought I was on nairaland.
It made me realize that maybe the true divide is between the haves and the haves not. All these issues about race, tribe, religion are just mere distractions.

Haha. I joined that subreddit a while back.

Such an eye opener. Abroad is not the eldorado that many young and uninformed Nigerians think it is. The stories of toxic work environments, very low wages and their struggles to make ends meet is quite revealing, and sad too. Many European countries are faring better than the USA in terms of better living and work standards. Blue collar workers are worse hit.

Bottom line, as it has been discussed many times here, if you have a good source of livelihood, forget abroad., or take your time to pick a good country. Some African countries are even better.

EarlyCareer:


Fair enough.

Keep sharing your wealth of knowledge. Your consistency here is well appreciated. We might not agree on a few areas, however, there is so much I and many others have learnt from you, emmanuelewumi.

The CEO has a Jerry curled hair

EarlyCareer:


Haha. I joined that subreddit a while back.

Such an eye opener. Abroad is not the eldorado that many young and uninformed Nigerians think it is. The stories of toxic work environments, very low wages and their struggles to make ends meet is quite revealing, and sad too. Many European countries are faring better than the USA in terms of better living and work standards. Blue collar workers are worse hit.

Bottom line, as it has been discussed many times here, if you have a good source of livelihood, forget abroad., or take your time to pick a good country. Some African countries are even better.

You and the other poster are obviously just paid agents of China sent here to bring down the almighty US. But your plans have failed.
That screenshot was obviously doctored.

Every sensible person knows that Emelika is heaven. There is no poverty, no sickness, no accidents, no deaths. The roads there are literally paved with gold. That’s what some people constantly tell us here.
Reason I personally don’t joke with people that have gone there. For me, as long as you have worked in the US, even as a gateman, you are basically an expert on everything and anything, finance included.

AlphaLion:
You and the other poster are obviously just paid agents of China sent here to bring down the almighty US. But your plans have failed.
That screenshot was obviously doctored.

Every sensible person knows that Emelika is heaven. There is no poverty, no sickness, no accidents, no deaths. The roads there are literally paved with gold. That’s what some people constantly tell us here.
Reason I personally don’t joke with people that have gone there. For me, as long as you have worked in the US, even as a gateman, you are basically an expert on everything and anything, finance included.

thanks for the laughs.