₦airaland Forum

emmanuelewumi:
Stocktrader1 was banned by Nairaland, similar thing happened to me about 3 days ago. Something needs to be done about Nairaland anti spam bot.

He said he will be here to clear his name when his bank is over.

emmanuelewumi:
Current rates for money market funds


FBN Quest Asset Management 4.5%

FSDH Asset Management 4%

United Capital Asset Management 4.57%

awesomeJ:
We don't both know that!

What's the maximum we ever had injected into the BDCs from 2017 through 2020Q1?

40,000 USD weekly, It was mostly 20,000 weekly per BDC, and that was enough to keep the calm.

Plus over 90% of nigerians actually don't have enough naira to buy up to 10,000 as we speak.

There are those who can afford to, but have funds tied in properties and other illiquid assets. There are also others who can afford it, but already hold their savings in foreign currencies, whereas, there's the vast majority who have dollar purchase as the last thing on their minds cos all they want is a way to pay the next rent and keep the kitchen stuffed.

So in the end, there's at most say 1,000,000 speculators having an average of NGN 1,000,000 to speculate with. That makes 1trn tops, about $2.5bn, less than 8% of current reserves.

Speculators will certainly run out to f available naira before CBN burns 10% of reserves.

Plus there's still another tactic of offering t-bills at 14% discounts again, that will make quite a number of folks decamp from the speculators bunch to the t-bills 'geng', and some will even liquidate their current dollar holdings to cash in on juicy t-bills rates, making dollars even more available.


Ultimately, I wouldn't advise anyone to bet against the fortunes of the naira as it's currently a currency that is blessed.

seankafor:
una follow dey spoil naija.. no be tommorow now, una go dey point accusing fingers on some politicians

emmanuelewumi:
It is a conservative Investment for people interested in steady income on an annual basis.

Get in touch with your investment banker and check the consistency of the REIT in the last 8 years, location of their properties , the property managers, fund managers and Trustees

A guy on this thread invested in REIT in the US and currently get 11% returns.

I have been dealing with SFS REIT and UPDC REIT for the past 4 years.

SFS REIT has 5 Properties in Lagos and Abuja valued at N2.2 billion and N400 million in fixed income .

UPDC REIT has Shopping complexes, Mall, Office complexes, luxury apartments and warehouses in Lagos and Abuja valued at N25 billion and N4 billion in fixed income.

TransAtlanticEx:
So if you are the head of one of these companies,you'll shutdown the company,chase all the workers,cause scarcity of your products in the markets which might make your competition overtake you,default all your loans,risk damaging your machines due to idleness,destroy time value for capital all because because CBN say you should wait,they will give you dollars at 380 only God knows when,where abokis are begging you to come and buy at 470 and continue your business in peace?
You're a very brilliant person!

awesomeJ:
You're the one referencing a post that doesn't exist so go and check yourself and post here.

I've seen it a few times though when people will assume you said something you never said. It's only in your head, you didn't hear it from me.

Emefiele was reappointed around late May 2019, that should help guide your search.

ahiboilandgas:
if u know the quality and numbers of data and research the r./d departments in cbn carries out daily we will not be having this discussion.....so u think u have more strategy and data more than solodu, mailafiya , kinsely,sunusi and co with lot of money and brain to carry out research....na our chari kambia points without any research go supercede their....i dey laugh....their over 200. people with phd in economic from world class university ware house inside the cbn...

awesomeJ:
Quote one if such statements when I said dollar would crash latest this year.

What did you expect me to say when dollar went from 360 to 470. Given the situation at the time it was expected. The only thing to say is that 360 to just 470 or even 480 amid a crisis that has affected the whole world is way better than the 180 to 520 we had in 2016.

A simple objective reasoning is all you need to be convinced of that.

awesomeJ:
Why are you asking a question that's had an obvious answer now? It's like asking a mother of 3, "if xyz can't have a baby, is it you that will now have one?" Open your eyes! She has three already.

Why couldn't speculators keep USD at 520 or even 400 from 2017? Your folks were confidently buying at 520 expecting to sell at 1000, for years they couldn't even sell at 400, you're asking if Nigeria survived it. Shouldn't you know your question is misdirected? Because the real question is can the speculators survive?

I've you're so confident start buying dollars tomorrow at 470, let's see where it lands you.

Nigsrdumb:
He was talking about forex. Do Nigerian banks loan out money in forex, if the answer is no. Then his argument still makes sense.

The naira part is understood

ahiboilandgas:
Funny enough it hurts ever one inculding the Bleep akara seller ....cos the drug company is forced to import at speculative rate cos by araka sellers and when the araka seller have malaria he hia force to buy antimalaria at this self induced speculative rate ....instead of 600 naira the akara seller now pay 1000 .....effectively lossing out the imaginary gains ...

TotoNaRubber:
Haha it would have been 419 if he was charged $500, since it was 0.5% that would be 0.5 ÷ 100 i.e. 0.005 x 1000 = $5 which is still high.

I wonder which bank charges that.

TotoNaRubber:
Hi,
Which bank charged you 0.5% to transfer cash deposit?
Sayvif you had withdrawn lower denominations in cash, there wouldn't be any charge i guess.

Jared09:
I buy bitcoin in bulk and unit at a very good rate ...08079243761 WhatsApp only

Donbrig:
Apart from Americans having the best and most sophisticated military in the world, the second most effective weapon they have against the rest of the world is having about 70% of dollars in circulation across the globe and foreign countries holding a huge percentage of dollars in their national reserves, their third weapon is ensuring that international oil and gold trade are priced in dollars, "America First".

After the second world war, Americans felt the world owe them a lot and they have every right to dictate world affairs with impunity, they orchestrated and changed international monetary policies to their own advantage and things never remained the same till date. Though they played a critical role in ending the second world war, but they have had enough good time as a payback. Ohhh, sorry I don't want to take us on history lessons.

The US have always used the dollar hegemony to take on nations that does not agree with their political views and foreign policies, they have toppled world leaders and even embarked on (economical) wars for same reasons. I just think it is time to find an alternative currency for dollar, where every country would have a fair playing ground and countries like Nigeria, Turkey or Syria or Iran won't be having economical haemorrhage because they don't have enough dollars in their national reserves.

qmd24:
How can you value what you don't have or haven't experienced. You probably did not learn about the Bell's curve and outliers. No insult intended, but don't come here and discourage the young ones from going on to higher institutions. Education is lifelong though and formal education is just the beginning.....

juniorrate:
Please is it possible for those fund manager like Stanbic ibtc asset management,fnbquest Asst Managament,Investment-one and their like to vanish with investors fund or should the SEC just merge them similar like what happened to skye Bank

OvaSabi1:
Stop calling an honest person a coward please. This is why many people pretend to be happy for you when inside inside they are jealous. Because if they are honest with their feelings people will call them cowards.

ahiboilandgas:
Please can some explain to me the rationale behind huge burial expense in edo state or southern Nigeria ....my friend is about to bury his mum and expense is currently 3.9m but his sisters are still requesting another 900k to buy 3 cows ....it is a norm or they are trying to extort money from him since he aboard....

Godbpraised:
Wicked account officer

ahiboilandgas:
what happen if the bdc start getting supply and international travel start? What strategy do u have in place....cos everyone will rush to offload

ahiboilandgas:
Is their any country in the world that had tried thia principle of lowering rate against raising inflation in the guise of spuring an ailing econmomy

ahiboilandgas:
Whooa is difficult been Nigerian investor a chap that bought 200k dollars @359 ...sold it for 465 today ....he made 21 million naira today from February to July....while cbn is giving 1.5 percent on it dead and risky Naira (junk) and strangely some investors are even oversubcribing....i suspects it not their money but that of pension contributions ,retires and some uninform people