₦airaland Forum

$10 perfect money needed

emmanuelewumi:
United Capital Eurobond Fund was launched in 2017.

They have historical performance from 2018 to date, the fund under management is $72 million


The performance is not bad

Does anyone knows fund this. Any Swift fees and do they accept cash deposit.

jedisco:
I wouldn't say never on that.... If that happens just like in Lebanon, banks will connive with the very rich to move their forex out before it takes effect... It's the not so very connected that'd be trapped.

All the policies CBN brought out to tackle devaluation has so far failed.... There are little tricks left... These tricks are not new... they've been used in other climes...

Looking back, First thing CBN did was to blame rice and certain imports, then FG locked the border.
Next desperation started to set in and they blocked all parallel forex tranfer into the country insisting it must go via a specific route (thst failed),
then they banned crypt0 (as they thought incoming transfers were now through that route),
next was to start giving folks sending in forex extra naira to appease them to use the CBN medium- this was the height of desperation which of course has failed....

Now, that folks are no more buying the rice card and are asking questions, Theres are 3 possibilities I'm seeing.. First is a proper rise in oil price to bring some succour and allow them continue their rigmarole, next is to ban dom accounts under the patriotism narrative, last would be for the cbn to set up their portal to handle incoming diaspora remittance and pay out at the market rate...

I can assure you nothing will happen to dorm accounts. People think it’s the low hanging fruit so cbn will go against it but if you ban dorm accounts then naira will literally become useless. Only thing cbn can do is restrict cash deposits but stopping inflows into dorm accounts would be suicide mission for naira

Fuhrerfran6:
Please, what can the CBN possibly do to domiciliary accounts? I want to know please so I can take caution.

CBN can’t do anything to dorm accounts. I’ve said this repeatedly, people are just trying to cause panic. The elites of Nigeria all run dorm accounts and cbn can never go against them by making any policy against dorm accounts. If possible buy inflows instead of cash deposit to be on the safer side

Tobex4realTobex234:
It is the same knowledge it takes to study First Bank balance sheet, that it takes to study Apple balance sheet.

It is the same way you follow up VGIF that you can follow up VOO, or even Cathy's ARK funds.

So let us stop asking can i convert my naira to USD? The answer will always be Yes. Any money you don't need for naira expenses in the short term, always convert.

Now, stopping at the conversion isn't good enough. Have a strategy to invest in dollar denominated instruments. For stocks - do VOO, VTI for a start.

What platform do you use for buying these stocks

emmanuelewumi:
What is the current price.

The guy managing the fund is not smart, should have converted 80% of the fund to cash since February 2021

You didn’t get an email about the crash? The price was at 5% but investors lost over 20% of their fund including capital (unheard of) this month but they have rectified it and restored up to April balance. Could have been a big scandal

emmanuelewumi:
My money market fund with United Capital is now paying close to 7%

Is united capital a subsidiary of UBA? I prefer mutual funds that are subsidiaries of big names

emmanuelewumi:
Which of the funds do you have with FSDH.

I have FSDH Treasury Bill Fund and Coral Income Fund with them

Coral income fund and It crashed this month.

emmanuelewumi:
Never said it was deducted from the capital, he will lose 20% of the interest earned on the investment, all funds have minimum holding period.

Money Market Fund 30 days

Fixed Income Fund 90 days

Eurobond Fund 90 days

VGIF has the longest which is 180 days

Please what mutual funds has the best rate currently. Don’t understand what’s going on at FSDH

$10 PM needed asap

Mesmer can you post the number I gave you on WhatsApp so I know I’m dealing with the right person

Treasury bills is back!! Nice

emmanuelewumi:
First Bank and Stanbic IBTC will accept N100,000 for Treasury Bill Investments

Sorry I meant to write Zenith Bank

Lazyyouth4u:
It’s all about education. The average guy that has 5 or 10k doesn’t know about mutual funds and frankly, couldn’t be bothered.

But anyone that has 100k wants to keep that money in fixed deposit. Unfortunately, the fixed deposit rates were pitiful. That person is more likely to go to his or her bank to ask for their money to be kept in treasury bills if they have heard about it (as opposed to mutual funds). You have to be quite sophisticated or financially sound to know about and/or use mutual funds.

I don’t want to believe that in a country with a population of over 200 million, that there are less than 500k that have 100k to invest in fixed deposit or Tbills through banks. But I could be wrong sha.

But in any case, I think with the bolded you have corroborated my point that average Nigerian retail investors couldn’t have made enough gains to be buying lots of cars last year

The minimum for treasury bills with Zenith bank, largest bank in Nigeria is 1million so considering that he’s right I believe

DigitalMallam:
Pls I need advise.
I want to convert part of my Fixed Deposit Fund (Naira) to EuroBond ($).
I spoke to my broker and they gave me conversion rate of 498 to move the fund from Naira fixed income to $ Eurobond.
I had requested same last year I got 483 then, I said it was too high but it's seem Nigeria isn't getting better any time soon.

Should I still wait or can proceed.

Cc: any other interested person

What Eurobond fund is this?

Is there any bank in Nigeria that pays interest on dorm accounts?

Alienwarfare:
$250 payoneer for sale
$250 payoneer for sale
$250 payoneer for sale

https:///send?phone=2349067061091&text=Hi

Sold?

cooooooks:
Hey do you use Payoneer? And with PayPal Xoom, I'm only seeing USD when sending to Nigeria.

Payoneer for sale?

9jahotblog:
you can buy it via payoneer now or buying it through peer to peer group. you can also buy it from a trusted seller of bitcoin.

How can you buy it through payoneer

stephen2020:
I have some payoneer fund up for sale. Guys who is your goto plug when you want to sell payoneer fund

Bring it @450

silibaba:
Perfectmoney
Skrill
Neteller
Paypal
Bitcoin, but you will pay the miner fee

silibaba sell cheap

only to end users

How market folks?

Do you have PM? Your number is not going

While Otedola left the oil business, Elumelu, Dangote are entering into it. Interesting times

Philantropists:
My Experience dealing with a financial institution based out of naija
I had a bitter experience with the institution with constant back and forth to the extent i almost lost N1.2 million. I opened accs for myself and minors with proof as their legal guardian, the accs was opened and i made deposits to mine N55m and N400k each for the minors, when it was time to take out the funds the bank refused to release the funds saying i should get the authorization of any other legal guardian the minors may have before the funds can be released, Is this legal?

For nearly a week, we were battling it, they demanded for documents that I never imagined. They kept refusing the documents i tried to offer, asking for additional documents issued by their government which was impossible to provide. I will advise anyone who intends to invest funds outside the shores of Naija to think twice, when you invest and keep seeing profits it's all good, when you want to take out the funds is when you will truly know some of these offshore banks are criminals. It is better to put your money where your mouth is, do not trust financial institutions, they will they to try embezzle your money even while you are still alive. Better to invest in properties and going forward 80 percent of my portfolio will be properties.

Which kind of bank did you invest in, what did you invest in. Care to elaborate

emkin:
Please, what's the Best way to move money from payoneer to a Nigerian bank.

I can buy your payoneer from you at good rate

Just exchanged payoneer with him, best rate. Quick payment. Thanks

Nigerians are equally blazing the trail. Heads of World bank, incoming WTO, a Nigerian was just announced as US deputy treasurer. Nigerians with inferiority complex are the ones to say others are better or praise the white man. India gained independence before Nigeria, where has their ingenuity taking them? It’s still a poor, undeveloped nation and I think has the highest case of rape in the world.
That some Indians are blazing the trail in IT where I accept they have comparative advantage over us does not mean they are better than us. An IT company developed by Nigerians in Nigeria was recently acquired for $200m.
Yes Nigeria has a large unproductive and poorly educated population but we also have the best just like India. If you ever see how these Indians or Chinese treat their Nigerian workers you won’t be here praising them, perhaps why most establishments use them, because it’s money before workers for them

DexterousOne:
It all sums up to one thing.....
They are HARD WORKING and LONG TERM in focus and thinking
Two aspects black men are VERY VERY HANDICAPPED IN.

lol, Indians are some of the worst people around, stop with the accolades. Yes their people are highly tech savvy and that’s why they head most of the blue chip tech companies in the US, especially software companies but that’s just that.
If Indians are as good as you guys are saying why are they still poor and undeveloped, unlike say China. Why haven’t they applied their ingenuity to their country, besides with such huge population, it a tiny group of their population are making waves then no special thing about it. We also have Nigerians making waves abroad

ojesymsym:
Probably, it could also be some variables changed or some assumptions turned out to be wrong.
It would be really nice to have a review of that policy discussion again. I think the major contributors were awesomej, transatlantic and a few other guys. Another review of positions (not a "I told you so session" could help us all learn and understand what happened and what did not happen.

There is nothing new here. the awesomej guy always talks from the patriotic point of view not according to reality, if you go back to the thread it was discussed you will see where I and a few others told him his views were far from reality. This discussion is as old as last year too. I really pray the dollar don’t hit 500 or go up from there because as it stands right now the CBN have lost it

One of my biggest mistakes this year is leaving money in mutual funds. Couldn’t get up to 100k since January, whereas I would have more than doubled that if I dropped the money in btc or converted the money to $$ then Mutual funds is just nonsense

ojesymsym:
Nothing really to argue about here, we can simply allocate the portion meant for our 4 refineries to him, that one non be issue.

Sir, you gave us a good analysis sometime ago about the direction the dollar was going, the present reality seems not to have followed the model you came with?

Lol. Patriotism is very different from reality

Expect dollar rate to start going up from now, the cbn is just clueless. Time to release a statement to douse the tension. No one is even sure what the new cbn policy means, even banks don’t even understand. lol

It’s crazy people are supporting restrictions on Dom accounts. It points to a failed nation and will even scare people from making fx inflows into the country and further damage the economy. Imagine cbn taking this useless advice after ahib will tell us they have think thanks. Lol
Stop the panic now, we advised that the earlier panic in resuming fx sales to BDCs which was applauded by some here will only last for a short time, now they have moved to dom accounts, what will they move to next after dom accounts?