₦airaland Forum

Experts in the house
Please is it a good time to convert USD (eurobond at 5.29%) to naira and invest in treasury bill (22%)?

Babtunz:
Hello all,

Please I need your inputs on this. Say you have #10m to invest, how would you go about it? Would you rather:

1. Invest all in Risevest real estate plan for a 11-12% annual return. Using the exchange rate of 1650, that's about $6060. 12% of that is $727 which is about #1.2 return in a year.

2. Invest all in Stanbic MMF for a 20-21% annual return, which is about #2m.

3. Putting inflation into consideration, I'd go for number 1 but leaving out a potential 800k in option 2 doesn't sound very wise to me.

If you have any other way you'd go about this please kindly share 🙏🏾

The first thing you should consider is the safety of your capital and neither devaluation of naira nor interest rate. How reliable is Risevest

Kindly recommend a good dollar fund. Unitedcapitals has refused to increase their dollar fund rate. It's been 5.29% for more than a year now.

Chrisfaco:
I have about 15m I made from savings and my business. Should I start build a residential house for myself and family or invest it in TBills yearly and use my interest for rent and other basic expenses. Pls I need suggestions. (PS: I have got a land for the building already)

Put the money in Tbills.
Use the annual interest from Tbills to pay your rent and start the building of the residential house till you finish it.
Keep doing your business and continue to grow the capital you put in Tbills annually.

wuwu2:
Could you explain further?
I don't have a dom account.
Just walk in and pay on the counter?

You need to create a Domiciliary account (USD) and make the transfer. Cash deposit must be at least a month to be able to transfer. Transferred deposit can transfer anytime. Remember the minimum is 10k

wuwu2:
Just having difficulty getting them to provide a dollar account for this.
Has anyone had any success?

Update!!!

All you need to do is walk-in to their office and do the needful

wuwu2:
Just having difficulty getting them to provide a dollar account for this.
Has anyone had any success?

Same here
I guess they'll do it via their dollar fund investment plan. In fact, UBA sent a message about the FGN dollar bond but there were no specific details on how to invest.

ernie4life:
If the fund invest in this bond, there is a chance that the return will improve though I don't think it will get to this coupon rate.

I thought as much. Thanks. I'll contact UC as well

I have some change in unitedcapital eurobond at 5.34%. Is there any chance of the rate increasing with this new FGB bond? Or should I just pull my funds and put in FGN?

Enskynelson:
Yea, the old portal had transcript request form. I don't know about the current portal. The only person I processed admission for is an NOUN alumnus

Please when is 1st semester for new masters intake starting?

Enskynelson:
Yea, the old portal had transcript request form. I don't know about the current portal. The only person I processed admission for is an NOUN alumnus

Thanks! I've actually checked, it's not on the new site

Please my center is asking me to print a transcript form from NOUN website. The man I met said it's on the website. Please how do I get the transcript form they are talking about?

N/B: I already sent transcript from my school to NOUN and printed the Remita payment slip. And I showed it to the man. He said it still remained transcript request form.

Use this https://www.greenafrica.com/

Batman2412:
How was your equity performance last Friday? I'm planning to join now it's 8%. You don become guru now with experience & I wanna learn from you. [b][/b]

Lol. As at Friday I last checked, it has turned to 27k. That is 2k within just one week. I'm still observing anyway. I also noticed the decline in the interest rate. Let's see what happens tomorrow and Tuesday.

civilserva:
CBN asked banks to deduct 50 naira for every foreign currency transaction in Dom account equivalent to 10000 naira.
This means if you have 100 USD which is equivalent to 90000 naira, the amount to be deducted is 50×9= 450 naira

You're getting the interpretation wrong. Ask questions and don't just assume

What they mean is that there will be a charge of 50 naira on fcy of 10,000 and above in naira.

If 10usd entered your account, which in naira equals 10 * 1000 = 10,000naira, you would be charged 50 naira

If something higher than 10usd entered your account and the conversion is 'equal to or greater than' 10,000naira, you would still be charged 50naira

If something below 10usd entered your account and the conversion is not up to 10,000naira, you would not be charged

Donbrig:

Lol... You dey laugh me

I go soon become rich

Today, I saw an increase of #106 just with 25k o

Altogether, we have 24906

Hopefully, I should be getting around 3k steady on the 25k if things fall in good place

As I said, this is just a test

I want to get used to equity fund

Maybe someday, I'll have the courage to put something big

VeeVeeMyLuv:
What were your reasons for this investment move?

Check this thread: ⬇️⬇️⬇️⬇️

https://www.nairaland.com/1131485/nigerian-stock-exchange-market-pick/3676

The high interest rate and to know how it works

Good day everyone

I invested 25k in ucap equity fund last Thursday to test the waters since the interest rate for their equity fund is 44.53%.

I opened the account today and saw 24800, which is loss.

Would you advise I withdraw my remaining fund or be patient?

osuolale95:
Happy new month everyone, so I was in the market few minutes ago to get some food stuffs.

So I decided to get a tuber of yam. To my surprise, they said it is #1,200.

How much is it in your area?

Reporting from Olodo Bank, Ibadan Oyo State.

It's like you are not good at bargaining or prolly doing big boy in the market

Yam is supposed to be cheap at that your side, Olodo Bank.

I bought these three #2000 yesterday at gbaremu market, after Sango, Ibadan

One of these would be eaten three times. It's big

emmanuelewumi:
Walk into the bank or make a phone call to United Capital

I'll give them a call then. Thanks

emmanuelewumi:
I use United Capital, the beauty of their Eurobond Fund is that you can borrow against your Investments to the tune of 80% the black market rate value at interest rate of 18% per annum

I use United capital as well but it's been a while I funded the account since fcmb stopped USD transfer. How do you fund it now?

Itsrm:
Open an eurobond account.( I use FBN Quest) Open a dorm account with standard chattered. Pay in your dollar into your dorm account, transfer it to your eurobond account.

You can also use any other dorm account but you will pay excessive transfer charges.

There's no standard chartered branch in my location. That'll be hard. Thanks by the way.

emmanuelewumi:
They are invested, the one bought on Saturday will be invested today

Please which platform do you invest. Also, how do you invest by USD cash payment since most platforms available accept only transfer.

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

I8id:
Honestly I enjoyed my Note 9, solid screen after many fall no single crack and I do my everyday task swiftly. I had to swap it when the battery started draining. Xiaomi Note series from 7 to Note 10pro is well-built

Recently changed my battery for the first time after almost 3 years. Phone is still working as new. It's a very good product.

He did a nice job. My modem is now unlocked.

Enskynelson:
Nope. They get NYSC Exclusion cert for now.

Thanks, but I saw it somewhere online that the senate has approved them going for nysc

Please, do students at NOUN go for nysc?

Olaide1295:
Allboiz, biko come back. What investment is your friend getting 5% on USD from? (Asides eurobonds)

Yeah, Eurobond

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?

Freeman6771:
omoo me either. What are you paying with ? Form A or flywire? You can please send me a message let’s text

It's through flywire you will pay and get account details you will transfer to, even with form a

Legitmenaija:
This your point of paying directly for 1st semester and using Form A for the rest makes alot of sense.

I am in the same boat of confusion.

Are you also for cambrian?