₦airaland Forum

Odunharry:
Wait till Monday and see

Great news! Just got debited evidently GT still went through.

Thanks for keeping me positive.

Chai. Oga Obaseki pls.docus on governance and forget these distractions.

Odunharry:
Wait till Monday and see

🙏🙏

Itsrm:
Was not debited yesterday? You were meant to be debited when you submitted the bid. Or you meant not credited.

Apparently banks have different methods; in the case of GTB they debit you only if the bid is successful, (ie amount bidded is removed less the interest) otherwise, the money is untouched.

alezzy13:
That's great.

GTB anyone? 🙏

Eventually was not debited yesterday. Apparently GT was not successful. DAMMIT!! 🥺🥺

Nakedman:
Todays Auction

That's good

Itsrm:
First banks bid was successful at 20% interest rate.

That's great.

GTB anyone? 🙏

AjalaJ:
Tokyo is the safest city in the entire world.

From: Vishal Bhatia, Quora

Not true. Tokyo or by extension Japan might be safe, but not safest. That distinction has always gone to the Nordic/Scandinavian countries: Iceland, Netherlands, Finland etc.

doublestar21:
The last I bought was 1300 and it is paining me to buy again because it is up. But now I am regretting for not buying at 1500, even 1600

For your mind 🙄

emerged01:
My heart beats faster any time I'm in Lekki. Some girls are so beautiful sha. Na beautiful girls dey do olosho o.

Why is your heart beating faster?? 😆

🤮🤮🤢🤢🤢

But I don't get why Obaseki would pick a labour guy as his deputy - particularly a relatively unknown figure.

If he wanted to pull the rug from Akpata, (who by the way I hear is not really that popular) he should have chosen a more formidable candidate.

awesomeJ:
If the holiday falls on Wednesday, the practice is to hold the auction on T+1 or T-1 (Tuesday or Thursday next week).

Remember some people's bills are maturing next Thursday so they'll be rolling over the debt, selling to new subscribers ti redeem the naruring ones.

It's how it's been.

I see. Well I hope so. To be honest it's been a while invested in TBs (close to 4yrs now)

skydiver01:
I am pretty confident the auction will hold/take place on 10 April

Lol. I like your confidence o. But spoke with my account officer and according to him it's quite unlikely to hold next week, unless the holiday turns out to be Thurs - Friday (unlikely).

Abi CBN and DMBs wey go process the bids no dey go holiday??

Foodempire:
Wao. Didn't see that coming. So na so one month go pass by without me taking part in these Juicy rates. First bank no do well at all for skipping two auctions now.

Yeah. Even me I don dey salivate for the 20% + returns, until I was informed it might not hold. 🥺

Chingyyy878:
Imagine having your first kid when you are almost 45

So what??

MT:
I wonder too.

The reason is since the dollar is dropping in value everyday, the mallam needs to create a buffer for themselves to accomodate the risk.

For instance, it is 1250 right now. If they change it at that rate for you and it drops tommorrow , they run at a loss. So they will change it for less (N1180) as of now so that before the CBN rate gets to 1180, they would have hopefully sold it off and make gain.

Gone are the days when Mallams sell at arbitrary price.

I don't know if I pass my message across well.

Hmm 🧐

Nakedman:
Next week Wednesday 10th. Ensure to submit your applications this week or latest by Monday.

April 10th is holiday. Might be moved to upper week

Dobodobo04:
Because banks would have to pass it to customers, don’t u agree?

I’m not illiterate. The fiscal system is still in its infancy, monetary tool of selling bonds and increasing interest rate are being deployed.

Asking banks for recapitalisation which CBN knows they will pass to customers is another subtle way of mopping up liquidity.

Unless there is some attraction or incentive, why on earth would I want to keep more of my funds in a bank?? Can they banks match the current mouth watering rates securities are offering??

Come on, if that was the intention - which I doubt - it doesn't make any sense

CBN has many tools in its arsenal to handle excess liquidity, recap is NOT one of them.

Shaddymie:
Honestly, time will tell, I've been married for more than a decade and yet to have a child, I tried everything humanly but all to no avail, I still trust God, he'll answer me one day.
See it has not been easy, aside seeing my mates and people around me have children and I don't have, it's really getting to me that, I don't have anyone to talk to or send an errand, if I don't get it my husband will and at times I'll have to go far.
What I'm saying is, not only pressure from people will make you feel you don't have but, the boredom and not having yours to send on an errand at due time, because people will make you feel you don't have a child. Not trying to convince you, it's your choice, it is well with any decisions you choos.

Wow. This is touching 🥺

Wow. How time flies. I just graduated from university when I first came across this thread.

Now 15+yrs down the line. We thank God!! 🙏

That's all I have to say about this thread.

Richtaiwo:
Obviously, it is gradually inching towards the official rate. Isn't it high time CBN reduced it to, let's say, N900/$ or 1k/$. And same thing be repeated when it starts converging again. With more effort, we might see the rate getting as low as 200/$ before the end of the year.

Defend it with which money?

The question is what is the military doing in such mediation??

JulianBond007:
I watched the video of the electrocution. The two men were lucky to survive. While one looked motionless, the other was trying to escape the shock till he found himself inside the gutter. Thank God they both survived.
I wish them speedy recovery

Wow. So they both survived? Thank God for their lives. I thought the motionless one had pass on. Was a very disturbing and distressing video to watch.

DeLaRue:
It is a double edge sword.

As CBN rate rises, commercial banks will increase savings/fixed deposit rates, thereby attracting more savers who will be locked into 12 months or more term.

This will indirectly reduce the money available for spending and thus reduce patronage of many goods. As traders and manufacturers wait to exploit consumers with predatory prices, less and less people will buy their goods. As their warehouses pile up with unsold goods, they'll have to reduce prices, thus helping to reduce inflation.

Increasing interest rate will also mean the government can issue bonds at rates that will be attractive to foreign investors. More dollars should flow into the country.

The bad news is:

As Cbn increases interest rate, banks too will increase their lending rate with the likely result that:

1. Many businesses that depend on bank loans will lay off staff or even close down

2. There will be fewer new investments- businesses can't survive on 33% - 35% loan rate

3. More pain for the economy generally.

Unfortunately, with the amount of money printed by Mr Buhari's government, the CBN will have to keep increasing interest rate in order to mop up excess liquidity and control inflation.

Managing a large economy in times of crises is a sophisticated game of chess. For every positive steps, there are multiple potential negative consequences. There are usually no easy solutions.

Unfortunately for politicians, the public want solutions NOW! or they dabaru everything and even call for coup

The public is not interested in, nor do they understand economic theories.

Excellent, unbiased analysis 👍

So what happens to the staff of these agencies

The question is who is leaking those letters??

bimbodotun:
Asue Ighodalo get rich CV. I will support him.


Chairman, Sterling Bank Plc,
Chairman Nigerian Economic Summit Group.
Chairman, Nigerian Breweries Plc

He will lead like Alex Otti

Obaseki s CV was also rich. Has he really performed? Then look at Soludo.

He I know they are good at speaking all the right grammars, but the jury's out on whether it's a good idea to have technocrats in such leadership.

Come o. This do or die politics in Edo state is becoming very worrisome o. What is going on faa?

raumdeuter:
Obaseki fought against Godfather imposition only for him to impose his stooge Ighodalo and become his godfather

Oshiomole fought against Anenih godfatherism only to become a godfather to Obaseki

What this only prove is that people are hypocrites and they only turn into activists seeking public favor when the game does not favor them

But Anenih was never Oshiomoles godfather

Hmm. Is it just me or are people genuinely unhappy with this news??

Yes it's marginal, but a step in right direction.

Nigeria will rise again 🙏