₦airaland Forum

NL1960:
I hope this will not cause dead stocks and stocks without fundamentals to start rising and then create another market bubble like what happened in 2008?.

NL1960:
I hope this will not cause dead stocks and stocks without fundamentals to start rising and then create another market bubble like what happened in 2008?.

ojesymsym:
What do you think is CBN's endgame in all of this? It is now clear to even the blind that a lot of Nigerians with free income will rather now still put it in the real sector of the economy.

I was having a chat with a friend of mine the other day and he was asking why the very rich Nigerians do not invest in startups, most start up grants in Nigeria come from angel investors abroad, why?

ojesymsym:
Ah that's true but even then, I want to believe they share notes and of course they can see that there is enough liquidity chasing any safe investment so they can afford to do nnaga.

ojesymsym:
I just got my alert of my last year TB investment and I cannot say I am happy to receive money. One of the first alert I de receive for life and I non fit smile becaue that particular money cannot be put in NSE or any unguaranteed income. As CBN has tasted blood now even their SUKUK and other bonds will be single digits also if not decimal places sef.

ahiboilandgas:
brilliant ke? Abi bitter and jealous of wheel barrows ........do people wake up from sleep and just carry there balls to total plc and say they want contracts ?........u want to be a transporter without experience or capital .......any business has to have capital source ......borrow from family and friends,banks , asset disposal or equity funding......330 mentions no reply or respond......source of capital is taught in managerial economics ......

Cyberknight:
I have to agree with you here.
Nigerian banks are probably the most risk-averse entities on the planet and considering their operating environment one can't really blame them.
Everyone is now going full holding company-mode and expanding to other African countries while Emefiele continues to fool around with CRR debits in the vain hope of driving the "real" economy.

Desanta:
The property was worth over a 100 million Naira and we got it at a discount because the original owner is late and his children who lived abroad where not ready to come settle in Nigeria.

The hospital is doing very well with rebranding and employment of young consultants as partners with shares iin the hospital.

Lazyyouth4u:
Privatization of NITEL isn’t the reason we are not complaining of telecoms today. We are not complaining because licenses were offered to Econet and MTN who came in and changed the game along with Glo. Nothing to do with the privatization of NITEL which in itself was a failure and was only privatized long after the licenses were issued.

Lazyyouth4u:
Do you know how many business plans and cash flow projections are dumped daily in the trash bins of bankers? You cannot get a loan from any bank in Nigeria for this type of business without a long term supply/transportation services agreement to supply products (or serious connections in that bank). It is that agreement (and connections) that separate the small boys from the big boys. God help you in getting the transportation services agreement without meeting the requirements which include owning your trucks and other infrastructure.

This is not even factoring in your own equity contribution (at least 20 to 30 percent of total costs) which the banks will require. Some will even ask you for additional collateral and personal guarantees from someone/company with billions. The trucks will be sold at liquidation value if they can not make money to service the loans. Who will now pay the difference? In this economy, you think the banks will gladly take that risk?

Please stop misleading people. It is not that easy to get a loan from a Nigerian bank. If it was, you would have quit your job to go into haulage business full time.

ahiboilandgas:
really....how much is the toll gate generating? ....13m daily that around 40k dollars daily x30 1.2m dollars per month x12 =14.4m dollars per anum ....so 14m dollars can covert lekki to dubai? Only the metro is in billions of dollars

tnota:
Thank you.

I am familiar with the suggestions you have provided. However, what i mean by more taxes is that i don't want to pay company income tax, education tax and the rest.

TransAtlanticEx:
lol,fx went to 480 due to speculation,that's why when CBN announced airport reopening saga dollars started flooding the market so much so that abokis refused to buy and price came back down to 420.
When CBN didn't do as they say when they open airport the rates jump back to 470 and now since CBN is pumping small liquidity it has stabilise at 460 range.
All these haphazard movement of price is not caused by real demand but speculation.
Now where did the naira for this speculation come from since all debt buyers used their naira to buy stocks and properties?
Also,who told you real speculators go and deposit their fx in banks? lol.You think they don't know when fx liquidity hit CBN banks won't give them their dollars again?
Did I not warn about this very early on this thread?how did I know?(not saying I am a speculator,but I know how they think).
Bros ehh,leave talk,I don tire.

tnota:
What a brilliant man! I so much love your mindset and useful contributions made so far. I want you to educate me on this tax avoidance thing. Let's say I have a company named AwesomeJ Limited and the primary purpose of this company is to invest in securities e.g shares, bonds, CPs etc. Only securities and nothing else. Assume I receive dividends (net of WHT), interest from both bonds and CPs (net of tax) etc., and then further invest same (dividends and interests collected) into buying more shares in such a way that i don't want to pay more taxes except for WHTs which are deducted at source. How can this be achieved?

NB: before anyone trying to criticize me, just know that i am working in the govt and from what i have seen for the short time that i have been in the system, we are so wasteful as a nation. So fuckin.g wasteful. I hope to get out soon so that my values won't be compromised.

TransAtlanticEx:
Do you think I will be paying you 20% and fold my arms?
Do I look Stupid to you?
While I am tying down your liquidity,I am building my reserves too and blocking fx leakages like some irrelevant imports and so on and when I fix things,I hand you your money and crash the rates,just like CBN did.
So no zimbabwe here.

TransAtlanticEx:
Are you meant to stop after one period?No.The subsequent year you will still take it out of circulation via high interest debt instrument again.
So what gives?
How did you know the free naira in the hands of debt market buyers weren't used to chase fx?there's no data for that.
How did dollar get to 465 so quick and where did the naira to buy it come from?
Who were/are the speculators?
I think your guess is as good as mine

TransAtlanticEx:
Are you meant to stop after one period?No.The subsequent year you will still take it out of circulation via high interest debt instrument again.
So what gives?
How did you know the free naira in the hands of debt market buyers weren't used to chase fx?there's no data for that.
How did dollar get to 465 so quick and where did the naira to buy it come from?
Who were/are the speculators?
I think your guess is as good as mine

Lazyyouth4u:
My brother, health insurance contribution isn’t a government tax. Please go and read how health insurance works and you will understand where I’m coming from. You clearly do not know how it works.

TransAtlanticEx:
You see that bolded ehn,roll weed,read am again and see how it sounds
TB at 18% is a means of clearing up free naira in the hands of future speculators.
That person who is buying fx with 1.8m would have bought it with the whole 10m if TBs was not at 18%.
And of course 10m will definitely exert more pressure than 1.8m
Now that TB is low,nobody will want to block 10m for 94k PA,rather there would be so much liquidity now for speculative purposes since the debt market has crashed.
What are you saying bros?

Lazyyouth4u:
Do you know how health insurance works? Perhaps you should go and read up on that first. Contributions for health insurance is different from taxes my friend.

TransAtlanticEx:
You see that bolded ehn,roll weed,read am again and see how it sounds
TB at 18% is a means of clearing up free naira in the hands of future speculators.
That person who is buying fx with 1.8m would have bought it with the whole 10m if TBs was not at 18%.
And of course 10m will definitely exert more pressure than 1.8m
Now that TB is low,nobody will want to block 10m for 94k PA,rather there would be so much liquidity now for speculative purposes since the debt market has crashed.
What are you saying bros?
You know what you need?Go Allen avenue go carry the biggest waist weh dey there commot liquid for your body,na em dey make you no dey see well

Lazyyouth4u:
You are misquoting me o. Read my comments again please. I said government can increase taxes if they want to. This is basic. But they can’t ask people to make contributions for health insurance when they purchase goods like recharge card. I said contributions o. Not taxes. Think critically about this ridiculous idea and you will see that it is beer parlour talk that only drunk illiterates will applaud.

Please go to the NHIS website to read about how the informal sector is covered. Maybe you can reach out to them to suggest ways to improve the contributions and coverage to that segment of the population.

maishai:
Sounds like some people enjoy paying taxes in Nigeria..........As for me I don't and look for all means to evade it, for the sole reason that it would be embezzled by who knows whom

TransAtlanticEx:
I am talking credit you are talking debt market?
What's the correlation?
For the fact that there is so much liquidity out there due to low tb rates,don't you see how weak the naira is?
Does that not tell you mopping up naira is also a means to strengthen the currency without intervention?
Cheap credit helps our fx position in what way?

Lazyyouth4u:
Nigeria has a national health insurance scheme. Contributions for health insurance are deducted from employee’s paychecks. Even the informal sector is covered. This is how health insurance works globally. No country mandates its citizens to make contributions at the point of purchasing goods like recharge cards. Also, no country mandates profitable companies to contribute its profits for citizens’ health insurance after the companies have paid taxes. This is 2020.

jedisco:
In virtually every country you pay tax at the point of purchasing good and services. That tax is used by the government in funding critical infrastructure including health.

maishai:
Oga this system is dead on arrival in Nigeria, Next Common entrance examination of your kids to secondary schools...... go there and witness the legendary level of malpractice that is going on................Go to WAEC, JAMB, NECO,A-LEVEL, POST JAMB, GRADUATE AND POST GRADUATE and witness extra legendary levels of malpractice and someone is suggesting Nigerians Write exams to obtain positions of service

Kill this idea it wont work

Lazyyouth4u:
In what sane country do governments mandate citizens to make contributions to a healthcare fund (or any other public service) at the point of purchasing goods or services? Are people not already paying taxes? Are people not making contributions through the National Health Insurance Scheme? People must think before making such impractical comments. It’s ridiculous that anyone can even think like that in 2020!