₦airaland Forum

otijah2:
if you don't know what you are saying just shut up

na u suppose shutup. that someone had 1% means that marvis had just 1person who voted for her
OLODO!!!
I am sure u follow for those wey dey laugh say buhari get oluwole certificate meanwhile u dey fail simple mathematics.

soon u will quote me and start mumbling some mumbo jumbos which is expected because like they say.
Empty barrel makes the loudest noise, Shior

most of these fellas abroad live on debt aka mortgage.
infact I remember a survey that says just about 25% of the American citizenry had savings of at least $100,000

be patient with a bus conductor?
e be like say op na ajebo
Being patient with a conductor in Lagos makes u vulnerable, infact u could forget ur change with him because of your mumu patience.
As long as I am on my right, I am down for any conductor. Except you are a sissy

geopreneur:
Efe's stories will never end on nairaland

*When he arrives murtala muhamed airport - front-page

*When he signs endorsement deals - front-page

*When he arrives warri - front-page

*When he meets ex housemates - front-page

*When he visits jokers - front-page

A minute silence to those who are waiting for BBN and Efe's stories to stop flooding nairaland.

Don't flatter yourself young man, everything that has a start also has an end. I remember when UTI won, the social media were so much in love with his personality and hr had a slang hr always used in the house that I can't remember , but it was popularly used by the viewers.
How many times do u get to see UTI stories on Nairakand? Efe has won and kudos to those that supported him, but if u still want to be suckin.g on his c.ock forever on NL, then u need to get a grip maan.

davidif:
You truly don't understand the economics of devaluation do you? In other to keep your currency artificially high we have to burn through our reserves. How smart is that? That's why this people have been saying just leave it and let the market determine the value of the make a instead of the CBN artificially trying to do that because it comes at a significant price.

it is that economics that you feel you know that led us to recession. in July when we devalued our currency, our country began a journey to hell.
If reserves are burned for the short term, no problem. in the long term when our today's effort will yield fruit in the long term then we can think of devaluation.

I still repeat that devaluation has no benefit to an import dependent country

ukay2:
Two forms...Custodian form and Treasury bills Tender form....next time you bid via the same bank, you will not fill the custodian form again. ..rather the Treasury Bill Tender formy you will be filling subsequently. ..

ermm ermm Once tbills matures and the capital is paid into za account, whenever i return to reinvest, i have always been filling both forms for like a year now with first bank, both custodian and t.blills form and not only one.

strange innit

Earth2Metahuman:
Imf and devaluation

Dem use devaluation do those people.
That's the only policy they know

Devaluation this devaluation that.

Since we have been devaluing, what has it add to our lives?

no mind them. its because it favours them since they hold a stronger currency.
devaluation adds no value to an import dependent country.
when we devalue, they will now come with thier dollars and be claiming foreign portfolio investors.
God punish them

JustinSlayer69:
I have advice for you:

1. Get reading glasses.

2. Flog your English teacher, no where did i mention Naira is even recovering at all. Where did i even say it would fall?

3. Pray to God... your IQ is very low. There wasn't an iota of sense in what you wrote.

4. Go and change your diapers.

Have a nice day.

anybody that just read this can easily tell how low your I.q is. you can't even quote a comment intelligently to save your life. change your diapers? is that the best you could cook up from your brain? you couldn't even counter me with an intelligent fact. well I don't blame u even you name reeks of dullness like the bimbos called slay queen, you are called Justin slayer

JustinSlayer69:
...you guys said this 3 months ago...

This tactic is poor for propping up the currency in a DEVELOPED COUNTRY with infrastructure in place for industrial revolution.

But in a DEVELOPING COUNTRY like ours, temporary measures must be taken while we set down the skeleton for long-term development.

Otherwise, 1$ would be equal to N2,000 if the Naira is freely floated as some have suggested. We are not simply exporting enough

By the way... during the global economic recession, CBN was doing exactly this in 2009 - 2014. It wasn't just so evident

Mr man don't count your chickens before they are hatched. if you think naira is on the road to an everlasting recovery, you are a joker!!!

all these one CBN is doing na initial gra gra, from now till next year, don't expect the exchange rate to hit $1-250naira otherwise u are sick

story, as long as naira exist dollar will always thump on them.
people are already converting thier fiat currency to bitcoin, how much more the dollar?

one thing I do know since I was born is that, when u save dollars it will always rise against the naira. always will, maybe its a curse but always will. The speculators that will lose are those quick to sell, if na me I go hold am till thy kingdom come he he

unite4real:
This is completely false.

If your account has N40 million and you bid to buy TB of N50 million for 364 days at 20%, the entire N40 million is debited from your account and on maturity, N50 million is paid back to your account. There is no smart N10 million anywhere to be added to make the N60 million you talked about. Remember that your account had N40 million. So if you bid for N50 Million at 20%, the N10 million upfront interest didnt remain in your account because your acount initially had N40 million and not N50 million. If your account had 50 Million, then the N10 million upfront interest will be in your account while N40 million is debited.

There is no smart way that 20% yield will give you N60 million from N40 million. That's like saying you got yield of 50%. that is not true.

There are two scenarios here

scenario 1: You had N40 million in your account and you bid for N50 million at 20%. All the N40 million is taken and at the end of maturity, you are paid N50 million. Money moved from N40 million to N50 million. shikena

Scenario 2: You had N50 million in your account and you bid for N50 million TB at 20%. N10 million interest is paid upfront and left in your account while N40 million is debited from your account. On maturity, N50 Million is paid back. If you reinvest your N10 million, you get N2 million extra which brings the total interest to N12 million. Money moved from N50 million to N62 million.

None of these scenarios can make you up your money from N40 million to N60 million.

thanks for the clarification, I just knee that it just didn't seem right to me. with your clarification now I get the clearer pic, and if others have invested using this style. I will like them to mention the name of the bank they went through. Someone said Gtbank, what other bank?

sanerugwei:
I specifically said this works with GTB.
I do not understand First Bank's rationale for withdrawing the whole amount at first then paying back the upfront interest after the bid.
What do you mean by outsmart, you made it sound like some dubious operation. It isn't.

well its not dubious per we, but its you outsmarting them. Writing the amount to be invested in your form as 1million when infact you don't have up to 1million in the account because you know not all is needed is you forming sharp guy. let's take for instance

someone with 40million in his account can place a bid of
50million at a discount rate of 20% for 364days.
now if this rate is successful, it means 20% which is
10million will be paid upfront while his 40million in the account will be debited.

at Maturity he gets back the 50million he indicated he invested plus his 10million upfront interest collected
making a total of 60million!!!
Now that's him using 40m at 20% to get 60million
instead of originally investing his 40m @ 20% to yield a total of 48million
so he outsmarted the system by gaining Awoof 12million
I doubt this would work even at the gtb bank , I strongly doubt it because it will cause the CBN to generate fresh fund immediately to be paid to you as upfront interest instead of just subtracting it from your original invested sum( in the example above, 10m is the fresh fund they will have to generate while taking ur 40m) ......Just doesn't seem right

sanerugwei:
What if you bid higher than the amount in your account, isn't that better than reinvesting the upfront interest.
Eg. I have 825k, I can decide to bid for 1M because at 18% that 180k interest add transactions costs too, they will just deduct that amount or thereabouts.
On maturity, you get credited 1M.

don't be faster then your shadow bro,lol
you will need to find out the workings of your bank before trying to outsmart them. As with first bank, the moment you submit your bid request, the money will be debited from your account immediately. if the bid was successful, you get your interest paid upfront.
in this case, if you applied this approach with first bank by placing a bid of 1m when u have just 825k in your account, I am sorry to say it would be declined.
However not all banks debit you immediately you submit your request, which is what you should find out from your bank.
I asked this same question a long time ago because I wanted to outsmart them,lol.
so dnt be faster than your shadow

nothing can pain like a late minute goal eh, especially ehen u have been struggling to equalize. chaii this goal go don weak Middlesbrough like mad

this will not be good news to my importers at alaba international market. A place where u can sell everything inside a 40feet container in a day.
My Igbo brothers are in deep shit

davodyguy:
This is quite understandable.

We have dollar shortages in the country, thats why exchange rate is high.

$1.2 billion is a lot of money, if such is brought into our financial system.

Etisalat is greedy and wants to take advanrage of the fallen Naira to pay less.

This is it.

Hypothetical example
Etisalat took a loan 9 years ago of $1.2 billion at N160 = N192 Billion Naira

Today all you need to pay back N192 Billion is $480 Million.

So who's fooling who?

there's nothing wrong if they choose to pay in naira, infact the banks benefit during devaluation of naira through these foreign denominated loans. here is where you missed it
if $1-160 was the exchange rate like u quoted above in 2013 when Etisalat took the loan, it means if they choose to payback in naira.
banks will calculate it at the present rate of over $1-320
. the question now is why isn't banks considering the options, my guess is that with the injection of forex into the banking system, banks want to cash in on the huge profits to be made from forex deals, so if Etisalat claims they lack adequate funds in foreign currency, those banks can sell from their reserves to them and make profit instanta and at the same time gain back their loan in foreign currency boosting their reserves to supply the market, so its a double win for them banks. my thoughts tho

for those wanting to branch out to money market funds. from first bank group, I bring you a glimpse of the rate to expect. formerly I was scared of the shrinking fund size but its good to see fund size has bulked up from 24bn as at DEC to 28bn presently.

Ur profit is given every quarter, j.e after 3 months, however u can request for ur capital anytime after one month compulsory stay with them.

well as u can see from the chart, it tells u what they invest majorly in. over 70% of the 28billion naira of investors funds goes to the t.bills section.

the yields changes every month, so from the pic u can see its presently at 15%, next month could be higher or lower. all which will impact your profit at the end of each quarter

for those who would want to branch out coz of the new tbills rule, goodluck

Genea:
it doesn't work dah way for electric shocks, rather your body becomes incapacitated more like paralyzed wen experiencing this

like someone said, most parts of a laptop are made with plastic, even if the was the charger of the wire that burnt and got in contact with his body, the current passing through the wire wouldn't be enough to kill him.

if it was that easy, people would be dying daily from house electric shock. a better explanation needes

That 35k would be worth millions then.
and prices cannot remain the same over the years, all because of inflation. A slightly growing inflation shows that an economy is growing.

Now the reason why roofing a house in Nigeria now may be on the high side. is simply because the rate at which cost of items increases isn't in tandem with the rate at which peoples account are growing.

salaries aren't growing at the same rate as inflation, so its making us need more money, making us stress the more. with such stress and more to come in the next 25yrs, our life expectancy ratio in this country should be lower than 52yrs gan

what happened to reflex action. I mean the moment our body senses fire burning our skin or we feel electric shock. our body respond with the speed of light to that effect. this was the basis of reflex action that was taught then at sec school, I don't believe this tho. someone should explain better

I still don't understand how someone will carry this large size amount of hard drug and expect to beat the security checks at the airport.

I mean she didn't even attempt hiding it in private part or ingesting it like some of them do, rather it was wrapped so openly as if it was a casual goods. Na wa o. this is beyond stupidity if u ask me.

Uchesis:
infact, see d vehicle here
as she dey ride d vehicle, apostle dey ride d other 'vehicle'

cheiii this is a bad butty. this ukwu is bigger than bombay

paradigmshift:
you don't know fashion. ice Prince dress like a kid. normal guy man swag

you may as well do ur search

paradigmshift:
best dressed ke, e no swag reach timaya. timaya is d best dressed.

timaya is well dressed and so is iceprince

so low temperature doesn't destroy wrist watches?

for those saying uefa will always support the Spanish teams in the knockout stages. its obvious u don't watch football, u just join in the street talks to hear gibberish.
in 2013, malaga scored in the 82minutes only to have the scoreline overturned in the extra time by Dortmund?

what happened then, or malaga isn't a Spanish team?

when u have determination, u can do the impossible. Dortmund were so hungry to qualify, malaga didn't know what hit them.
scored 2goals in space of 2minutes

u didn't ask if its a fixed match,
that Dortmund could have robbed malaga abi

remember, this was a quarterfinal o not even round of 16? #Determination is everything.

Enrique learnt his mistakes. Barcelona needed midfielders that can mark. someone to cover the right back. a position Andre comes flopped in the first leg.
rakitic and rafinha did so well in that aspect. I mean when last have u seen Barcelona play this formation?
This was the best tactical formation drawn from the managerial team

JeffreyJamez:
Who told you they're crying lol...... and the fact the owners of a club is rich doesn't guarantee the club is rich ABI have you forgotten UEFA fair play rule?

PSG is so rich to accept money for fixed game. they can compete in the football world against club money for money presently.

I don't understand fixed in what sense?
is PSG a broke club? a club with a very rich Arab owner would accept money?

was neymars freekick a fluke?
or the own goal kicked directly into the net?

one thing this life has taught me is that, whenever u are ontop people will always spite you.
all PSG had from 87minutes was to defend against 3goals.

To defend for a full 90minutes no be beans, arsenal tried it against barca and failed.

Go and watch inter vs barca or Chelsea vs barca and watch how proper defence was carried out.
PSG crumbled under pressure, stop crying more than the bereaved(French)

hardbody:
The feminine gender for actor is actress, there are two ladies there and one of them, according to you is an actress not an actor. Teach the youths right or you'd be sitting on a bomb. Peace

over sabi, you too do.
who is an actor? where you taught that an actor means a man who acts on stage? gerrarahia mehn with your archaic thinking. we are in 21st century and you are still not update with today's knowledge base.
an actor can refer to either a make or female regardless of the gender. so he is right to refer to her as an actor

NL1960:
We have an ex-banker as CBN governor. So he will be looking for ways to favour his former constituency. Did you see how he resurrected COT in the name of 'Account Maintenance Charge'?. What i know of account maintenance charge in other places is a fixed amount charged on your account at the end of every month and not a percentage charge on any debit that goes into the account.

lol, sure we can see how the banks revenue are still on track. thanks to the freedom they have in the forex market granted to them by their oga at the top, emefiele

Do you think the banks are happy that retail investors are pulling out funds from f.deposit to go and invest in tbills??

with this limitation set, most of the t.bills players will either be forced to buy from the banks excess which is the secondary market or surrender to fixed deposit.
Treasury bills has never been a strong recommendation from the banks to customers so now is the time they have to preach to all and sundry about FIXED DEPOSIT, lool
As for the name Savings bond, anything that has the word savings in 9ja always come with low interest rate, so don't expect impressive rates from it.
Now we are at the mercy of banks, they can bid at 18% and now resell to us at 12 or even 10%. that way we will be forced to choose thier alternative which would be Fixed deposit ofcourse. #shalom :-)