₦airaland Forum

ahiboilandgas:
if they get the 30 bn dollars they want to borrow they might not .....if they save 10 bn dollars yearly import bill for petrol naira might gain or remain stable ...right now is 50/50.....so spread your risk

damilola1978:
What baffles me though is that, it all of these is happening (low FD rate, low Tbills rate..etc, closed border)..how come dollar rate is not dropping ...cuz I am not understanding

sempe123:
Yea,you have a point,I went to access ,I was surprised when I was told FD is mere 2%.

Wanity:
I wanted to insult but I won't just to avoid ban.

What point are you trying to make

Is none of your business how he spend his income.

He clearly make a statement about himself not you or the low income Nigerians as you

I don't know what you people gain from pushing politics where is not relevant or mentioned

olujaidi:
This question ehn....e get as e be. Is he on the Board? Is he a shareholder? Nnà na wa o

emmanuelewumi:
They are not allowed to take part in OMO.

They have long term Treasury Bills which they bought when the rates were good, they have commercial papers, FG bonds etc

Nigsrdumb:
When I changed euros a couple of months back it was 420 now it's 393 , meaning if I held on to my euro it would have lost some value.

Nigsrdumb:
You are completely right sir , I don't see an issue with cutting down tb rates even as s tbiller, the only issue is that the rate cut is not aligned with policies that will stimulate growth.

Imagine if they went full blown into state sponsored mechanised farming to reduce food inflation not only in rice but other commodities and then plug the reduced rate into monetary policy were you can access a mortgage at very low rates like 6 percent, it would have made more sense.

The other thing I've noticed is that even though the rates have been cut , the forex rates keeps getting better.

Nigsrdumb:
As someone who doesn't own a single property in naija but heavily invested in t bills, I still feel you guys are in a better scenario just incase the economy finally bursts.

At least with a house you're safe from homelessness, inflation risks etc.

My greatest fear is that all this money I'm carrying around could vanish if Nigeria goes Zimbabwe.

But properties are just damn too expensive.

Nakedman:
Hello house, Is there anyone here who subscribe to MMF via Zenith Bank...? Urgent response is needed.

9jatriot:
In situations like this, everyone will claim to be experts. I will not forget the number of people who claim that Soludo's consolidation of the bank base in 2003 was wrong, ill timed and counter productive, but now with the benefit of hindsight, it was perhaps one of the best banking decisions ever made. Many of those who condemned it then come with very sound logic. Although I believe that CBN should be held by trained Economist but calling for rubbishing the works of Emefiele may be out of place.
Everyone seems to forget that a lot of these strong changes started happening when PMB set up the Economic advisory team consisting of Rewane, Soludo and many others, they may well be the hand of Esau in this case.

Nigeria’s foreign exchange reserves recently dropped below $40 billion and this is giving policy makers something to worry about. To shore up the reserves, the Central Bank of Nigeria (CBN) stopped local investors from buying its OMO bills, allowing only foreign portfolio investors

dipoolowoo:
Moody’s Faults CBN’s Sale of OMO Bills to FPIs to Boost Reserves
https://businesspost.ng/economy/moodys-faults-cbns-sale-of-omo-bills-to-fpis-to-boost-reserves/

richforever123:
You guys should just forget about the rates increase, as long as Government is focusing on Taxation, it is getting money from other sources and does not need our treasury bills, this thread should be closed

healthserve:
If the leader of CBN is chosen from amongst bank top echelon, whose interest will he stand for/posture towards when decision is to be taken?...Plus, the regular economical meetings at top financial level, reflects more of the top guns who look first for business interest than national interest... This absolves Emefiele for being singled-out as anything. Its what our society wants..

We don't have an independent CBN chief. Many factors will pull anyone who sits on that chair

1. Presidency

2. Cabals within the govt

3. Bank Top Execs

4. Erratic economy. Almost zero productivity.

Donbrig:
We speculate a lot in Nigeria. My people calm down, no cause for alarm at all. Naira won't be devalued again. CBN is facing their own challenges like every other monetary bodies in other countries. In 2020, FG must put an end to oil subsidy, and CBN must stop forex, Nigerians must help to boost our economy and naira by patronizing local products. Dollar has more challenges than naira on the global stage. Russia and China have completed plans to do without dollars in all transactions and EU have already concluded plans to challenge the unfair advantage dollar is having across the globe by initiating other form of payments without the dollar. In reality, dollar is bleeding more than naira, mainly Nigerians are still overrating the dollar.

RealityShot:
hmm...
no need for definite words..

naira was falling in 2016 till february 2017 ...WHY? CRUDE price fell.

is crude oil price falling now?

damilola1978:
I think it is highly imperative for us to have a trained economist instead as CBN governor

RealityShot:
CBN is not "defending" the Naira.
CBN is "cheating" Nigerians by selling dollar very high to us.

average price of crude in 2017 versus average price this year says it clearly below:

https://www.macrotrends.net/2480/brent-crude-oil-prices-10-year-daily-chart

Naira should be trading at N200/$ if not for silly cheats called CBN.
Thats why Buhari keeps him dia!

RealityShot:
What if dollar falls next year?

zamirikpo:
AM at stanbic now and I just told my account officer to place a bid for 65m. When the actual amount in my account is 6.5m.

Let's see how it goes. Let them prorated at 10% am waiting.

WE DIE here.

Nigsrdumb:
Stanbic is better to deal with via email. Contact their asset management team , very efficient.

They opened my account within a day and sent me all the paperwork .

Your capital is not guaranteed to stay the same , it will fluctuate based on interest rates which determines the bid price of the bond.

If interest rates go up , your bond value price goes down and vice versa.

However in a dollar bond fund I think the interest rates are quite stable, also you will earn from re invested dividends which will serve as a cushion in the event of interest rate fluctuations.

It's a long time strategy , where you can drip feed your funds and benefit from dollar cost averaging.


I'm risking it anyway.

zamirikpo:
Abi....pls update me on this stanbic dollars fund thing. How does it work.

zamirikpo:
All this talk about bonds in not sweeting me at all.

Am in love with that upfront interest on TB, nothing beats that.

My anger is not even the 8-10% on TB it's the prorating.

As a business man I need to be liquid.....cant afford to lock down huge capital for 3-5 yrs(20m &above). When anything can come up.

Watching the market daily....TB it is

Jejebabaa:
Congrats boss, people will later come to congratulate you and see how lucky you have been when 364 days declined to 7% and was still only able to buy just 10% of their entire fund due to the bank porating the tbills.

IamR:
Emefiele is doing tombo-tombo with our economy.

Phyde:
Gradually dropping close to Stanbic maxyield savings account which is about 6.2% per year if you maintain a balance of 100k and above monthly