₦airaland Forum

nitrogen: You sure about the bolded? I think it is your bank that always give you a certain rate, with you thinking that it is the secondary market you are buying from, the minimum volume required for secondary market purchase or sale is 250m. Well, maybe your fund is close to or well over 250m, and if that is the case, then you have been accessing the secondary market truly.

By the way, the last time I checked, you can get 10.60 or so for a mid-tenor bill in the secondary market, also, there are Omo bills at 10.75/10.80.

It all depends on your advisor sha.

I am very sure…Infact I bought one in august from a different bank which will mature by Feb……You can buy from some banks at anytime not necessarily if there is auction or not.When it was 12% for 180days at the auction,I bought from bank at 11.2%…..But this very bank only buy through CBN auction and by Gods grace,I will move my fund by march next year to one of my other banks because after the election I may opt for something better….

nitrogen: You will get 10.00%.

I see….For some years I have been buying from the secondary market but since the secondary market rate is below 10%,then I had to bid in the primary market….I really have to find a solution to my funds…….Thanks.

nitrogen: Multiple bids auction system, you will get your bid rate, just ensure that your bid rate is lower than or equal to the stop rate, if it was a bond auction, then the stop rate would be for everybody, as in all winners would be allotted at the same rate (stop rate).

I am talking about T.Bills here……I instructed my bank to bid at 10% to avoid loosing the bid like last week but successful bid is 10.17%….Am I going to get 10.17% or what?

[quote author=frankyj][/quote]I have never bought from the primary market but recently I had to and my last bid failed so I bid lower.My question is if my bid is lower to the successful bid,am I going to get the rate of the successful bid?

ROSSIKE: France is proud of her Eiffel Tower? Oh really?

Well Nigeria is proud of her National Theater in Lagos.

Or Obudu Cattle ranch

Or Abuja (brand new city)

Her diverse, interesting culture

Her fashions etc.




But let's go further..


NIGERIA

- Most populous country in Africa with 170 million people.

-9th most populous country in the world after China, India, United States, Indonesia, Brazil, Pakistan, Russia, and
Bangladesh.

- Africa's largest economy with an annual GDP of $510 billion.

- Africa's largest oil and gas exporter.

- At 125 trillion cubic feet (tcf), the world's 7th largest gas reserves after Iran, Qatar, Saudi Arabia, United
States, Algeria and Venezuela.

- Africa's largest university educated population of approximately 30 million.

- Africa's largest and most prosperous middle class of approximately 60 million.

- Most extensive road network in Africa.

- One of Africa's top 3 most powerful military forces.

- Home to Lagos, the 6th largest urban center in the world after Tokyo, Mumbai, Mexico City, Sao Paulo, and New
York City.

- Nigeria is the only African country listed among the "Next Eleven" economies - countries on track to become the biggest economies in the world in the 21st century. http://en.wikipedia.org/wiki/Next_Eleven

- Nigeria is the only African country listed among the MINT nations - countries on track to become the biggest economies in the world in the 21st century.

- The economy of Nigeria is among the fastest growing in the world.

- Nigeria has one of the fastest growing telecommunications markets in the world, major emerging market operators (like MTN, Etisalat, Zain and Globacom) basing their largest and most profitable centres in the country. The government has recently begun expanding this infrastructure to space based communications. Nigeria has a space satellite which is monitored at the Nigerian National Space Research and Development Agency Headquarters in Abuja. http://en.wikipedia.org/wiki/Nigeria

- Nigeria is the first and ONLY black country to manufacture motor vehicles including cars, buses, trucks, and suvs:

http://innosonivm.com/en/index.asp

- 17th Aug 2011 Nigeria launched the world's first black-built satellite.

''NATION LAUNCHES FIRST SATELLITE BUILT BY AFRICANS - Nigeria successfully launched NigeriaSat-X, the first satellite to be designed and built by Africans, into orbit this week (17 August). NigeriaSat-X was launched along with another small satellite, NigeriaSat-2, from Yasny in southern Russia.''
(Source: Middle East North Africa Financial Network) http://www.n2yo.com/?s=5580


- Nigeria - World's fastest growing Construction Industry:

''Construction growth in Nigeria will be the fastest of all markets'', according to the latest 10-year forecast from Global Construction Perspectives and Oxford Economics.

The new study says China will overtake the US as the world's biggest construction market by 2018, but that the fastest growth will happen in Nigeria.''

''Africa’s biggest economy is poised to lead world growth in construction for next decade.''

http://stratsisincite./2009/11/14/construction-to-become-worlds-fastest-growing-in-nigeria/

http://allafrica.com/stories/200911130010.html


- Africa's biggest and most prolific film industry, and the world's second largest, with a contribution of $6 billion to Nigeria's annual GDP.

- Africa's fashion capital and home to the continent's most vibrant and creative fashion industry.

''Nigeria has sashayed into the style spotlight this year: Michelle Obama wore London-based Nigerian-born Duro Olowu’s print dresses and a hand-painted indigo blouse by Lagos-based Maki Oh for a state visit to South Africa in June, while Beyoncé posted a selfie wearing a sweatshirt by London-born Nigerian designer Walé Adeyemi on Instagram in January.'' - FT.COM 'Lagos - Global Fashion Hotspot' http://www.ft.com/cms/s/2/e1668b92-31b0-11e3-817c-00144feab7de.html#slide0


- Africa's most prolific music industry and entertainment capital.

- African Football Champions, and current holders of the African Cup of Nations.

Well said……Thats a lot of good things to thank God for…...

Smartjeezy: On a serious note.I will kill them all! They killed an innocent soul without any proof.R.I.P Sunday adio...A.k.a omo baba spain.I will make you smile over there in heaven.Operation kill 'em all activated!

What happened exactly because this SARS story start to to bother me…..Stupid Bokoharam kidnapping young girls….Why can't they go after this kind of wicked cops using their powers to oppress the people they are suppose to protect…..

I have mailed them too and I also asked them to come to Nairaland to explain to us why such nefarious activities is going around the country…….Nonsense!Even a robbery suspect or an actual armed robber deserves fairness and judicial trial before you can kill them….Who is the police force to judge?…..This type of post make it hard to live in that country…….I am going to mail the human right violation commission in charge of abuse by police if I don't get any response…..

Another form of a racism in Europe is not to poor African immigrant but if an African in Europe is looking/living very good than most Europeans in their standard,its a big problem especially if he has no skeleton…….A lot of people call that racism but I see more of envy in most things that people call racism…..Most whites from what I have seen prefers to relate with people from poor countries but when you are better than them especially if you are from one of the supposed less privilege countries,then its war….Most time the best way to deal with it is to ignore them especially when they are not coming to you directly...

Chillisauce: don't blame me. The money hard Me to get . So, 4 months waiting wont kill Me

lol…You are funny but truly money is hard to get but nothing will happen…..

Chillisauce: When y'all investing in other market funds, remember the election in 2015. If anything should happen to The entity Nigeria. Your money don loss o. Better re invest your funds in tbills until December, relax..watch out for the following months. Make 12 % longer throat no let you loose all your principal while moving funds up and down.
As per ibtc. Their money market is about 10%, with I think 0.5% charge fee if you stop before 3 month(will have to confirm), I'm sure there will be other fee like service charge. I'm still watching them closely, haven't read all the instruction.

Its true to watch out for the asset managers that you are not very sure of even if they are offering you 12% but you shouldn't stop your investment because of election…Believe it or not Nigeria will move on after 2015 probably with more challenges….My latest T.Bills re-investment will expire by Feb.2015 and I am not fretting over that…..

ernie4life: The requirements are simple fill an account opening form with us,with passport photo, utility bill and a valid identity card.
It might interest you to know we buy from the primary market not secondary market, the advantages of this is that out rates are much more competitive

Why is Investment One requesting prospective client to fill a form which requires cscs number when you are only interested in foxed income securities?

ghettodreamz: Tread softly and do your due diligence first, #1 priority.

Thanks for the advice.I am not committing anything beside am a Nigerian even though I don't live in Nigeria,I have a lot of people that can coordinate things for me but this transport sector has been difficult to penetrate and most Nigerians that I have talked to they didn't give enough details like that guy,I don't mind checking him out to see the possibilities but even at that you should know that am a very cautious person interns of investment.My post was a generous response to a detailed information given for the first time online but thats not a guarantee to a cooperation.My concern is how Nigerian can bind wholly whatever agreement you have with Haulage Managers and from what I have heard from people I am not satisfied at all.

ThaiAlNigeria: Greetings Nairalanders,

Looking forward to be a valuable contributor in these forums.

I'm from Bangkok Thailand and our company has been doing business in Nigeria for almost 2 years.

We have a registered company in Nigeria as well as in Bangkok and Dubai.

My elder brother saw an opportunity in Nigeria and made up his mind that Nigeria indeed has a great many opportunities.

Needless to say, actually implementing the idea was not an easy task.

We faced so many great hurdles to make it here that we almost closed down our business at the end of first year for reasons I will further explain soon.

I will separate my post into 2 phases.

1) Our first & second business idea and how that failed (Rice, Clothing and imports)
2) our third business idea and how we made it. (Haulage)

I will start with the first phase

Our first business idea was importing Rice into Nigeria. Seeing that I am from Thailand and Nigerians love Thai rice it sounded like a valid business plan. So we went around Lagos searching for buyers. We came across several powerful women that trades in Rice. We saw these huge warehouses full of rice and many container of rice being offloaded into the warehouses. They were willing and enthusiastic to work with us if we could get them their price. Daily rice prices are fixed. So we made a connection with these powerful women.

Now our next goal was to find the rice at the right prices here in Thailand. But it does not end there. We had to register our rice with Nafdac (Nigerian agency for food and drug). And going to the process of Nafdac is amazingly time consuming and expensive. We hired a lawyer to help us speed the process.

We had also known that the import taxes on rice into Nigeria is 40%. Now here was the issue. We tried finding a source of rice at the right prices here in Thailand but it was not possible. The reason it was not possible was because the import taxes were too high and there was no way we could have made any money selling to the Nigerian Market. We wondered how did other people do it? We investigated. We went to the port and made some connections with some people there and found out that rice importers were not paying import taxes. They were paying money under-table. It is an acceptable practice. But we understood it was against the law and decided to drop the idea of importing rice as wanted to wholly abide by the country laws 100%. We could have made money with the right connections but decided not to go this route.

That is failure of our first business plan.

Our second business plan basically involved importing clothes worth around $2000-$4000. But we failed to sell enough in the market. Due to competition and lack of market research we failed.

After this we decided to try to import various stuff into Nigeria like Air conditioners and electronics. But we realized that the prices the buyers were asking were too low compared to what the factories were selling it for. Plus due to heavy competition, complexity in import/export process and direct easy access to factories itself via alibaba and websites; we as middlemen importers were not needed and even if we were our profit margins would be very little.

So we kissed our import dreams goodbye as well.

Almost 1 year in Nigeria had passed.

If there is one thing we learnt.....doing business in Nigeria was NOT easy.

If you are interested, I will next write the second phase of our story later and tell you how & why we succeeded and the extreme difficulties (To the point where we were about to lose most of our fortunes) we faced before we succeeded in our next venture. (Haulage)

My humblest regards.

Your Friend.

Bravo!Very deep and insightful write up.You have touched so many areas that the so called JIBBS were hiding from prospective investors.Since you have the practical experience in the field of Haulage now,don't you think it will be nice for your company to start taking Trucks from interested people from Nairaland.I will love to go into the business and I mean slowly but I will prefer a very trustworthy company for a start.If you are willing to accept to manage trucks on my behalf you can send me your full contact and I can as well arrange with trustworthy contact in Nigeria to do the follow-up.

Atouke: [size=13pt]Fellow Nairalanders, tomorrow we shall compare the external debt profile of the PDP states with the APC states and see who is more prudent in managing the resources of the people. APC defenders am giving all of you prior notice so you can start now to prepare the defence of you progressive borrowers/ paymasters.[/size]

You should know SW people are more than capable to pay these debts without hassle if they want.

fidinwala: I made a fixed deposit of #1million for 120 days at 9.25% or rate in IBTC Bank, do you think it's a Good deal.

Yes,considering the amount.

nitrogen: Send me a mail, gennitrogen@gmail.com or provide your mail.

What is he talking about?

ernie4life: we could give you 12million for 180 days at 12%

I have just invested in another T.Bills with two banks which will expire in Feb.2015 but by then I can contact Investment One but the only thing I dislike about the KGIF is the resemblance with mutual fund because it has a price and I don't like that.I prefer product that specify minimum investment and fixed rate interest with duration.If not I am ready to invest 20M in any product that can give me fixed 12% per year,but I will do more research by January.

ernie4life: y will u want it to fall?

They are actually down a little bit because most banks offers 10% right now for 180days and the best bet you can get is 10.4% for same 180days...

ernie4life: it is negotiable considering how long you wish to fix it, add me on BBM with this2BA4014B pin let's talk better

Sorry I prefer you say it here…..If you have information for 180 and 365days respectively.

ernie4life: Thank God you know of Kakawa, we acquired Kakawa asset management last year( very soon the name will change), Ok I will give you brief of our rate 100k - 1m for 30days is at 6.5%, 60days is at 7.00%, 90days 8.5%, 180 days at 9.0%, 360days at 10%, I will stop here if you need more info add me on BBM on 2BA4014B

What are your rates from 8Million-12Million?

montecarlo: Her moniker is "besocial". You better start believing things you read, see or hear except that of bathing with hot water and salt. Lol

You look good as a couple and I wish you the very best……You are both good looking and I can see love all over….Happy married life to you guys and your union will forever be a source of joy….

ladygogo: Thanks obylrich.

To the Mods. You can delete the other threads. Thank you..

@OP….Still I can recognize your face from the picture even though you try to hide.Are you not that Yoruba girl from D.C that later moved to Maryland?……Congratulation anyway to both of you…..

Your investment is very small and its actually not good for you.One of my TB matured yesterday(180days) and I was like wow because the whole principal came back fully intact without any deduction……Its good especially when you can invest from 10M and above and thats when you can reap the benefit…..

dozzybaba: Seriously, I dabbled into T-Bill recently after a colleague painted it 'with all glory". I was sceptical and then called my account officer, bank offered me 9.5% at 85 days. I threw in N400,000 as an experiment, they deducted about N391,000. I was then made to understand that they've paid me my profits in advance and it was about N9,000.

I was like WTF, my money will be locked up for the next 85 days with only N9,000 as profit. I didn't really look well before leaping. I'm only experienced in stocks and FD.


Those with T-bill experience and patience can shed more light on this.

70% possible!This Asari guy is always upfront on this BokoHaram issue and when the Americans special forces that came to Nigeria recently were closing in on the sponsors of BokoHaram and that was when Asari went to the press that he met the founders of BokoHaram in Prison and that the sect was formed in that prison.And don't forget he was arrested for been the sponsor of BokoHaram in Republic Of Benin…...

The guy didn't do well in this world cup…..Maybe he is not happy that Yobo took the captain band from him……His performance against Argentina and France was below his capabilities…..So President should honor him for what?Please the cash bonus is enough and he can move on with his life,I wish him good luck…..Bite me if you want,this is my opinion and am definitely not forcing it on anyone…..

@

WWW.