jedisco:


Hehe... Lazyyouth appeared unnecessarily aggressive and many steered clear. But looking back, his ways were effective in caging the fellow.

It was not until I stumbled upon some of ahibs hate filled posts it because obvious he was truly unhinged. The interesting thing is that he would always boil in hate triggered not only by everyday facts but more by the reality of the successful strides the group he so hates continue making everywhere. Soon enough, he would return to preach patriotism...

You were right. He came back ooo 😂😂😂

oluayebenz:


True value of naira is around 600/USD..... I have said it before...

By middle of Sept, naira will range btw 580 - 600 per USD.

Hoarders should keep hoarding, I've said my own 😅. We move 🚶🚶🚶

oluayebenz:


Till then.

Will quote you

I come again to quote you now as dollar has eventually touched 1k

Are you still holding unto your hypothesis that the true value of dollar below 700?

I was thinking 1k5 will happen in 2025 but the way it is going by mid 2024, we will likely be seeing 1k5.

Of course I still hold some naira invested in stocks where profit can beat devaluation, I however do not have blind optimism that naira will be stable in the next 2 years.

Believing that the corrupt government of APC will stabilize the naira is like hoping the Atlantic will turn to dry land

pizapato:




I come again to quote you now as dollar has eventually touched 1k

Are you still holding unto your hypothesis that the true value of dollar below 700?

I was thinking 1k5 will happen in 2025 but the way it is going by mid 2024, we will likely be seeing 1k5.

Of course I still hold some naira invested in stocks where profit can beat devaluation, I however do not have blind optimism that naira will be stable in the next 2 years.

Believing that the corrupt government of APC will stabilize the naira is like hoping the Atlantic will turn to dry land

Damn....

I'm just speechless, I don't know what to say!

Mr Cardoso might do something different

pizapato:




I come again to quote you now as dollar has eventually touched 1k

Are you still holding unto your hypothesis that the true value of dollar below 700?

I was thinking 1k5 will happen in 2025 but the way it is going by mid 2024 , we will likely be seeing 1k5.

Of course I still hold some naira invested in stocks where profit can beat devaluation, I however do not have blind optimism that naira will be stable in the next 2 years.

Believing that the corrupt government of APC will stabilize the naira is like hoping the Atlantic will turn to dry land

March 2024. But yeah, it's okay to continue to listen to the likes of ahiboilandgas et al. People who wouldn't do a 50k business with a fraudster somehow believe that an intercontinental fraudster will turn the fortunes of the country around because of tribalism and bigotry.

The appointment we've seen so far already shows that we are in a "chop make I chop awa lokan season." Any wise person should be using his head already not relying on some failed speculations.

Imagine leaving your money in a Naira account without investing because you trust Tinubu and Gbaja to save the Naira?? Gbaja? People wey get assets everywhere in USA's $$ Only a f00lish person will trust these humans.

Invest in Naira
Save in dollars

Oyindamolah:
Invest in Naira
Save in dollars

How do one save or invest in dollars?.

Oyindamolah:
Invest in Naira
Save in dollars

Permit me to add one more line to your proposition

Invest in naira save in dollars

Invest in dollars or dollar assets , save in dollars or dollar assets , dollars can be replaced with any stable fc like euro or pounds

pizapato:




I come again to quote you now as dollar has eventually touched 1k

Are you still holding unto your hypothesis that the true value of dollar below 700?

I was thinking 1k5 will happen in 2025 but the way it is going by mid 2024, we will likely be seeing 1k5.

Of course I still hold some naira invested in stocks where profit can beat devaluation, I however do not have blind optimism that naira will be stable in the next 2 years.

Believing that the corrupt government of APC will stabilize the naira is like hoping the Atlantic will turn to dry land

When I saw that your post. I changed significant amount of my dollars to Naira (at 720) and bought a duplex house in Nigeria.
I made a terrible mistake. Being outside naija, I don’t even live in the house and it gives me no return.

milliondollarma:
How do one save or invest in dollars?.

US stocks market

Olaide1295:

When I saw that your post. I changed significant amount of my dollars to Naira (at 720) and bought a duplex house in Nigeria.
I made a terrible mistake. Being outside naija, I don’t even live in the house and it gives me no return.

I want believe you intend to quote the person I quoted.

My posts have always encouraged holding USD even if naira appreciates and rates fall.
I still bought some USD at 910 when I took some profit from the stock market and I wouldn't mind if rates fall to 750 today, because it presents me the opportunity to buy more at a lower rate.
Whoever plans on holding (saving in) USD for long term wouldn't even have cause to worry about daily movement of the rate.

Since 2020, the naira has depreciated by at least 20% yearly. Any naira based investment with a yield below 20% is a loss. This year the rate was around 730+ at the start of the year, meaning we had over 30% devaluation this year alone.

Like someone posted earlier, invest in naira, save in dollar

One way is to collect you Naira dividends or bond coupons and buy fx ($, £, €, etc). Which can be invested in fx denominated securities or just save it after conversion in your domiciliary account.

milliondollarma:
How do one save or invest in dollars?.

oluayebenz:


Damn....

I'm just speechless, I don't know what to say!

Mr Cardoso might do something different

Cardoso indeed.

Acidosis:



March 2024. But yeah, it's okay to continue to listen to the likes of ahiboilandgas et al. People who wouldn't do a 50k business with a fraudster somehow believe that an intercontinental fraudster will turn the fortunes of the country around because of tribalism and bigotry.

The appointment we've seen so far already shows that we are in a "chop make I chop awa lokan season." Any wise person should be using his head already not relying on some failed speculations.

Imagine leaving your money in a Naira account without investing because you trust Tinubu and Gbaja to save the Naira?? Gbaja? People wey get assets everywhere in USA's $$ Only a f00lish person will trust these humans.

Good point.

Olaide1295:

When I saw that your post. I changed significant amount of my dollars to Naira (at 720) and bought a duplex house in Nigeria.
I made a terrible mistake. Being outside naija, I don’t even live in the house and it gives me no return.

A grave mistake many Nigerians make when they initially migrate. Worse still, the opportunity cost of the duplex at home would have been a good mortgage or a buy to let with over 4% yeild and average 3% asset appreciation where you reside. 10 years in, you can easily liquidate a property abroad. Selling a high value duplex in Nigeria is very dependent on finding cash buyers which is mostly a hassle.
Wouldn't blame you.. made same mistake too.

The fact is our mindset has been conditioned by investment opportunities we grew up seeing locally. It takes a while to recondition and now appreciate global opportunities.

pizapato:

I come again to quote you now as dollar has eventually touched 1k

Are you still holding unto your hypothesis that the true value of dollar below 700?

I was thinking 1k5 will happen in 2025 but the way it is going by mid 2024, we will likely be seeing 1k5.

Of course I still hold some naira invested in stocks where profit can beat devaluation, I however do not have blind optimism that naira will be stable in the next 2 years.

Believing that the corrupt government of APC will stabilize the naira is like hoping the Atlantic will turn to dry land

Hehe... you sef..
It's funny how these discussions come around in circles. Remember having them here when usd was 350.. only thing is that with each grind up, more people jump on the train as they sadly loose faith in the naira.

Issue is many times our reasoning is beclouded by sentiment. Before the naira remains stable and appreciates against the dollar, certain basic fundamentals have to be present.

It's not difficult to identify these fundamentals- all one needs to do is look at the last time our currency held relatively stable for a while (2008-2012) or look at other nations with a stable currency and see what fundamentals we lack.

First, economic growth, a good shift in our inport/export balance, and less f00lish printing of the naira
All the hopeful talk of government is set to do that e.t.c doesn't work

Please am thinking of using risevest, are they legit?

skydiver01:
One way is to collect you Naira dividends or bond coupons and buy fx ($, £, €, etc). Which can be invested in fx denominated securities or just save it after conversion in your domiciliary account.

What fx denominated securities can the average Nigerian living in Nigeria invest in? Very few options available….

Below is one example.

Wotowotoman:


What fx denominated securities can the average Nigerian living in Nigeria invest in? Very few options available….

COMING SOON!!! UP TO NGN[150] BILLION FEDERAL GOVERNMENT OF NIGERIA SERIES VI SUKUK ISSUANCE

Watch out if you are interested.

skydiver01:
Below is one example.

Eurobonds?

emmasoft:
COMING SOON!!! UP TO NGN[150] BILLION FEDERAL GOVERNMENT OF NIGERIA SERIES VI SUKUK ISSUANCE

Watch out if you are interested.

When is it coming out ooo?

Dum20:


When is it coming out ooo?

No date yet.

What is wrong with Seplat and Access Bank Eurobonds? Even if you have reservations over FGN Eurobonds.

Wotowotoman:


Eurobonds?

emmasoft:
COMING SOON!!! UP TO NGN[150] BILLION FEDERAL GOVERNMENT OF NIGERIA SERIES VI SUKUK ISSUANCE

Watch out if you are interested.

Kindly update us promptly when it roll out, the time factors matter a lot. Thanks.

Waiting patiently

emmasoft:
COMING SOON!!! UP TO NGN[150] BILLION FEDERAL GOVERNMENT OF NIGERIA SERIES VI SUKUK ISSUANCE

Watch out if you are interested.

Allboiz:
A friend needs an advice...

He has 30k usd invested. He gets 5% annually as interest in usd...
5% interest on 30,000 annually is 1500usd
1500 * 740 = 1,110,000 in naira

He then noticed that if he had converted the money to naira, his interest would have been much better because the interest on naira is around 10% - 14%...
30000 * 740 = 22,200,000
10% interest on 22,200,000 annually is 2,220,000

Now, he's contemplating on whether to convert his money to naira for fast growth or leave it in usd. And at the same time, he is scared of naira devaluation. Anyone?

Hey pal. Hope you have your answer now? When you made this post, dollar was 740 naira but today, it is 1000.

In a do nothing scenario, your 30k usd would be 30M naira today whereas if you had converted the money then to naira to get the 22M, you would have lost out by 7.8M naira as at today.

Your 30K dollars when converted to naira at the time you made this post is now worth 22K dollars

This is from devaluation alone.

Lets assume you even got a naira mutual fund of 17% when you made this post, the naira would have been projected to grow to 25M in a year but just in 6months alone, dollar has gained far more than what you were aiming to gain in naira in a year.

I have not even factored the 5% interest rate of the dollar mutual fund yet. This is just a do nothing scenario on the dollar side.

Iamblessed85:


Hey pal. Hope you have your answer now? When you made this post, dollar was 740 naira but today, it is 1000.

In a do nothing scenario, your 30k usd would be 30M naira today whereas if you had converted the money then to naira to get the 22M, you would have lost out by 7.8M naira as at today.

Your 30K dollars when converted to naira at the time you made this post is now worth 22K dollars

This is from devaluation alone.

Lets assume you even got a naira mutual fund of 17% when you made this post, the naira would have been projected to grow to 25M in a year but just in 6months alone, dollar has gained far more than what you were aiming to gain in naira in a year.

I have not even factored the 5% interest rate of the dollar mutual fund yet. This is just a do nothing scenario on the dollar side.

He was too busy to do all the stress of converting the money then. He's now very happy that he didn't convert the money

Allboiz:


He was too busy to do all the stress of converting the money then. He's now very happy that he didn't convert the money

Excellent 😁😁

Crude is almost 100$ per barrel. Most Crude oil producing nations are dancing and celebrating knowing they are about to massively cash out from this even though most have cut down on production.

Somewhere In another part of the world, a giant crude oil producing nation is weeping and lamenting each time crude oil price rises higher. Which begs the question. What are they doing wrong?

Africa number one, biggest Natural disaster is not hurricane, malaria, flooding, famine rather it is BAD GoVERNANCE!!!

Whoever really want to help African countries be it internally or externally; all resource should be directed towards this disaster only. Once this is out of the way, 80% of our problems are already solved.