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Investment / Re: Treasury Bills In Nigeria by Cyberknight: 5:58pm On Sep 11, 2020
Lazyyouth4u:
Distribution problem is mainly around collections. If people are using electricity with the old meters and not paying, the DISCOS can’t make money. Even if they somehow install prepaid meters in every home, not many people can afford to pay for the electricity up to the scale the DISCOS require to settle the huge debts and make acceptable returns on their investments.

The current government is generally economically illiterate with its policies, but its removal of electricity subsidies is the right thing to do in these circumstances with the caveats that they ensure the DISCOS roll out meters so people are only charged for what they actually consume and that the DISCOs make the required investments in their networks so they stop rejecting what little power the country is able to generate.

6 Likes

Investment / Re: Treasury Bills In Nigeria by Cyberknight: 10:29am On Sep 11, 2020
Lazyyouth4u:
Kindly reach out to BPE o. Them get all the info and bidding documents grin

Need I?
You made an assertion here and I'm trying to learn. I assumed you had the information. Or don't you?

3 Likes

Investment / Re: Treasury Bills In Nigeria by Cyberknight: 10:19am On Sep 11, 2020
Lazyyouth4u:
That is correct sir but these political cronies were working with some of the best names in the business as technical partners.

Such as whom, pray tell?

3 Likes

Investment / Re: Treasury Bills In Nigeria by Cyberknight: 9:59am On Sep 11, 2020
DexterousOne:


It doesn't


The CBN governor is an independent person

The president cannot be giving him orders

It does not happen anywhere else (maybe in other useless African countries sha)

Trump can NEVER order Jerome Powell to take action


What he can do is to instruct the treasury
That's very different

But Nigeria
Everything jaga jaga and scatter scatter
And the people have normalised the crap

No government official in Nigeria is independent o, no matter what the law says.
Investment / Re: Treasury Bills In Nigeria by Cyberknight: 7:56am On Sep 11, 2020
Lazyyouth4u:
Sorry boss 1 billion Naira is just about 2.5m dollars. That’s not a significant amount of money. And believe it or not, there are still foreign investors investing in Nigerian TBills. 4% is always better than 0.5% you will find in the international markets.

Oh, there very well might be. Like I said, with the blockheads at Goldman Sachs busy talking down the naira exchange rate in the near term (12 month outlook) and fanning the flames of devaluation, with the proven difficulty Nigeria might have in funding forex obligations as external reserves drop and with Moody's having changed its rating to negative for long-term debt and other rating agencies threatening to follow suit, it would take a foreign portfolio investor with nerves of steel to take a one year bet on Nigeria.

1 Like 1 Share

Investment / Re: Treasury Bills In Nigeria by Cyberknight: 8:22pm On Sep 10, 2020
ahiboilandgas:
Strange person having 1 bn naira to invest in tb will be hustling scholarship fees from students ....he suppose to have a foundation to give scholarships..

At 17%, the risk involved in investing in a frontier market like Nigeria was worth it.
At 3. whatever% it is now, and with CBN's last 5-month delay in providing FPIs foreign exchange, no sane investor from abroad would consider investing any significant amount, let alone the equivalent of 1 billion naira. Their shareholders/investees would have them shot.
Investment / Re: Treasury Bills In Nigeria by Cyberknight: 7:48pm On Sep 10, 2020
emmanuelewumi:



Someone said lazy youths, I don't know if that is right or wrong

No matter how lazy one is, if you give them a bill of 20k USD for such a service, they will discover the virtues of hard work by force.
Investment / Re: Treasury Bills In Nigeria by Cyberknight: 7:47pm On Sep 10, 2020
emmanuelewumi:



In any transaction, you have the opportunity to accept or decline.



Of course.
I'm just agreeing with the previous poster that any transaction wherein "fees" of such an amount are sought to "arrange" a scholarship is objectively unlikely to be legit.

2 Likes

Investment / Re: Treasury Bills In Nigeria by Cyberknight: 7:43pm On Sep 10, 2020
emmanuelewumi:



That can't called soliciting for fund, wanted to render service for people interested in traveling out of Nigeria and for students who wanted scholarship.

His professional fees is between $20,000 to $30,000. If one is not interested because of the cost one can try other people who offer such services.


Nigerians should learn to do due diligence, we should not be desperate, cautious optimism is important, risk management can't be relegated to the background. We should also be very careful of smooth talkers or writers

How much then is the value of the scholarship?
If these are "fees", then I am the president of Nigeria.

13 Likes

Travel / Re: Uk Student Visa/tier 4 Pbs - Your Questions Answered Part 4 by Cyberknight: 6:46am On Sep 10, 2020
justwise:


Oh well.. you are about to start something that will ruin your immigration record for a very long time.

Withdraw your application and reapply with all your kids details.

Out of curiosity though.. why did you not add or acknowledge that you have kids?

It could have been an honest mistake, not understanding how to fill the form when it came to information concerning dependants, especially if she wasn't intending to travel with them at the time.

If I remember clearly (I stand to be corrected) the form is not quite straightforward when it comes to that part, it doesn't ask outrightly if you have children, it asks if you have dependants for whom you are financially responsible. The term "dependant" is confusing as used in UK Tier 4 visas, because many people are used to its normal definition of "someone who is financially dependent on you" while the UK visa system uses it to mean nuclear family member such as partner or children, irrespective of whether they are strictly financially dependent on you or not.

It's a common mistake, my cousin was very confused on this issue and called me for clarification, because she'd left her job at the time she was applying for a Tier 4 visa as the main applicant, and was officially a housewife not earning money so not strictly financially responsible for her children (her husband sponsored the course and provided the account statements used for the children when they all eventually applied) and didn't understand how to truthfully fill in that section. In a previous visit visa application for the UK, which was successful, she had stated her financial circumstances, so she was wondering whether she would be misrepresenting the situation if she then stated she had "financially-dependent dependants" in her Tier 4 visa application. If the form had directly asked if one has children, the issue would naturally not have arisen. The OP could have fallen into the same error.

8 Likes

Travel / Re: General UK Visa Enquiries - Part 4 by Cyberknight: 6:26am On Sep 09, 2020
HRprof:
You didn't add travel insurance?


Travel insurance isn't required for UK visa applications, the way it is for Schengen visa applications.
Travel / Re: General UK Visa Enquiries - Part 4 by Cyberknight: 11:54am On Sep 08, 2020
kcfastshooter:
Good morning everyone please i have booked for flight with Egypt Air here in Nigeria and i dnt knw if i will b asked of covid19 test result. please if need urgent reply thanks .

Surely the appropriate source to provide such information would be the airline itself?
Travel / Re: Uk Student Visa/tier 4 Pbs - Your Questions Answered Part 4 by Cyberknight: 9:58am On Sep 08, 2020
Hubbysluv:
@mimiyric
I did not upload my previous visa or stamp passport page o, i only upload my passport data page. Hope is not going to affect my application



You will have stated your previous travel where the form asked for it, so omitting to upload previous visas won't count against you.
In any event, there's nothing you can do about it now, so just remain positive.
Travel / Re: Uk Student Visa/tier 4 Pbs - Your Questions Answered Part 4 by Cyberknight: 9:07pm On Sep 07, 2020
damilarez:
Also, @solarinde, can I renew passport here in Nigeria as soon as my passport is returned to me??

You can, and in your shoes that's what I would do instead of going to deal with that madhouse on Northumberland Avenue.
It's easier to renew the passport in Nigeria.
Travel / Re: Uk Student Visa/tier 4 Pbs - Your Questions Answered Part 4 by Cyberknight: 6:39pm On Sep 07, 2020
SamUchechi4:
Please I know this is not the right place to ask this but does anyone have an idea if Spanish embassy is open for application?

https://nigeria.blsspainvisa.com/
Travel / Re: General UK Visa Enquiries - Part 4 by Cyberknight: 6:11pm On Sep 07, 2020
ashieduplus:
Hi.

I have tried asking this question on another thread to no avail.

Please If I come in through Cotonou to Nigeria will I get my passport stamped?

I'd really appreciate if anyone can provide this information.

Thanks.

If you come in through the border posts, yes.
Investment / Re: Treasury Bills In Nigeria by Cyberknight: 4:11pm On Sep 07, 2020
DInkMan:
September 2020 Federal Government of Nigeria Savings Bond (FGNSB) opens today , 7th September 2020 at the following interest rate:

2-Year FGN Savings Bond due September 16, 2022 at 3.501%.
3-Year FGN Savings Bond due September 16, 2023 at 4.501%.


It is a low risk investment for intending investors.

And inflation is at over 12%.

3 Likes

Investment / Re: Treasury Bills In Nigeria by Cyberknight: 3:36pm On Sep 07, 2020
ATPx:
This one talking about Trading Nigerian crude oil obviously doesn't know about the business.

The NNPC is transparent in marketing the Nigerian crude oil. A simple visit to their website will suffice. There is no need for third party whatsoever.

Lol.
I don't necessarily believe the guy's story, sounds a bit fantastic to me, but in Nigeria what is officially stated, on websites or elsewhere, and what actually happens are sometimes two different things.

9 Likes

Investment / Re: Treasury Bills In Nigeria by Cyberknight: 8:53am On Sep 07, 2020
Stocktrader:


Nigerian Banks with their interest rates are theives.

Lol.
Na the CBN dey set MPR, which is now high because of its anti-inflation stance. The banks take their cue therefrom.
It's all basically rubbish because at such lousy interest rates, lending is bound to be depressed.
It's the lousy charges the banks stuff into their loans that are truly mind-boggling.
Investment / Re: Treasury Bills In Nigeria by Cyberknight: 8:41am On Sep 07, 2020
Stocktrader:


I don't talk about Nigerian, beside let me ask you, as a Nigeria, If you invest 1 billion naira and in a year you got 90m, is that a bad business?

In Nigeria, its not a bad business per se, but inflation at above 12% has eaten up the profit, is what the previous poster was trying to say.
If the funds were borrowed from a bank at current interest rates, it's a loss.

4 Likes

Travel / Re: General UK Visa Enquiries - Part 4 by Cyberknight: 8:36am On Sep 07, 2020
Elevation77:


Thank u @giselle237, will they need my UK application username and password to be able to upload at VAC centre ?

No they don't need that.
You will have to provide clear colour A4 copies of the documents you want them to upload for you if they are not already in that format.
Travel / Re: General UK Visa Enquiries - Part 4 by Cyberknight: 8:35am On Sep 07, 2020
Ibyfaith:
Hello house, please can someone help out
My 6 months tourist visa expired because of COVID-19 couldn’t use it , so I’m reapplying again this month to travel for December
In filling the section for how many days I would be spending in the Uk , do I need to add the additional 14 days quarantine to the 8days I was meant to spend?

If you're traveling to the UK for less than 14 days, you will have to self-isolate for the whole of your stay.
So you will have to plan a 22 day trip in your case. Remember you will have to justify that length of time as always (work commitments, possible leave duration, accommodation costs, etc.)
Travel / Re: General UK Visa Enquiries - Part 4 by Cyberknight: 8:30am On Sep 07, 2020
famzynet:


Thanks for your reply. I have used them previously and the experience is exactly as you stated. The meal is not what any African desires. Actually,I wanted to know if people who used Turkish airline since 5th September were asked for covid certificate.

Turkish Airlines does not require a Covid certificate, according to their website.
https://www.turkishairlines.com/en-int/announcements/coronavirus-outbreak/what-you-should-know-during-the-pandemic/
Investment / Re: Treasury Bills In Nigeria by Cyberknight: 7:47am On Sep 07, 2020
emmanuelewumi:



You look at profitability on the basis of the compounded annual growth of the profit, consistency of the profit and the profit margin from the business.

Ethiopian Airline is the most profitable in Africa with a profit of about $200 million, not bad for a business of over 70 years operating all over the world..

MTN Nigeria and Zenith bank are 20 years and 30 years old, they operate solely in Nigeria they make far more than that

Dangote cement, UBA, GTB, Airtel Africa, MTN group, Access etc they operate within Africa they all make more than that.

Analysts have already predicted that the current pandemic will affect the profitability of the Airline industry for the next 24 months.

In any business, there will be losers and winners. But in a situation where the losers are more than winners, break even period is long, business is capital intensive and profitablity is cyclical call for cautious optimism, experience, knowledge, patience, prudence and creativity.


Since you are a retired pilot, hopefully one day you will own your own airline and join the few profitable ones in the country and in Africa


African airlines are generally not profitable true, but many foreign ones are, or rather were pre-pandemic.
Delta, Ryanair, Easyjet included.
Of course the pandemic has affected their businesses, just like it has affected hospitality, tourism and other sectors, but it will bounce back, the question is just when. That's why Buffet sold his airline stock. He was previously heavily invested in airlines.

Not all of them live off government subsidies. The really subsidised entities are actually the major aircraft manufacturers, Boeing and Airbus.

Secondly, Nigerian banks are not really profitable entities, they just deduct charges from customers accounts and recycle the whole thing and do very little actual banking.

2 Likes

Investment / Re: Treasury Bills In Nigeria by Cyberknight: 2:45pm On Sep 06, 2020
emmanuelewumi:



What can we do to enhance liquidity and unlock other economic potentials in that sector

Titling, titling, titling.
Investment / Re: Treasury Bills In Nigeria by Cyberknight: 1:38pm On Sep 06, 2020
emmanuelewumi:



Just 5% of the properties in Nigeria have certificates of occupancy, therefore most properties are not acceptable by financial institutions as collateral

Same old sad and heartbreaking problem of the near-impossible leveragability of land due to our policymakers' incompetence.

1 Like

Travel / Re: Uk Student Visa/tier 4 Pbs - Your Questions Answered Part 4 by Cyberknight: 8:10pm On Sep 05, 2020
mattfeuter:


You’re correct bro.

Eco is human, deputy high commission is human, even Boris Johnson is human.

Nothing wrong with what you did.

A lot of Brits would disagree very strongly and very profanely with you there. grin

2 Likes

Travel / Re: Uk Student Visa/tier 4 Pbs - Your Questions Answered Part 4 by Cyberknight: 6:39pm On Sep 05, 2020
The ferry to Dublin goes from somewhere in Wales. 3 hours or so.
There's a combined train and ferry ticket you can buy.
Or could.
Dublin is a lovely place, but quite expensive.

And you definitely need an Irish visa, the Common Travel Area is only for UK and Irish citizens and a few citizens of other countries holding visas- China and India, I think. As always, anytime any exemption is given to anything Nigeria no follow.

1 Like

Investment / Re: Treasury Bills In Nigeria by Cyberknight: 6:32pm On Sep 05, 2020
ahiboilandgas:
many dont even have the 7.7m to bid weekly,some are own by same gangsters to access 20k x10 bdc every.week

Exactly.
I think their number should be slashed. They're too many.
Investment / Re: Treasury Bills In Nigeria by Cyberknight: 6:29pm On Sep 05, 2020
SamReinvented:
I really don’t like to comment on threads, as I prefer to just observe. But... I wanted to do something for humanity today. grin grin cheesy

For those who have ears, you really should listen to awesomej and sell your dollars if you still have some right now at this late hour. The price is gonna balance with the official rate soon.

I don’t need anyone to believe me or counter me. Na just advice I dey give. I already made my own buck. Converted all my naira savings/investments to USD at 370 back in March when I felt the pressure coming. I converted all of them back to naira at 470 immediately they announced opening of the international airport (As I knew BDC would have to open to retailers). I have successfully dodged the bullet of devaluation and inflation and even gained a lot. If you are still holding dollars, OYO is your case o, unless you’re willing to wait another 4 to 5 years, when something drastic would happen and there’d be pressure again on the currency.

Okay, bye for now.

I don't think it will take another 4 to 5 years for the naira to feel more heat.
Investment / Re: Treasury Bills In Nigeria by Cyberknight: 6:23pm On Sep 05, 2020
ahiboilandgas:
must illegal dollars traders became Bdc owners after prof soludu licence them in 2004 then license was 5m ....we now have 5000 bdc s and registerd association (Abcon) which u must belong to before licence....soludu accepted the this illegal forex dealer are significant to the stability of the rates and in having a convergence of rate BDC was linsence by cbn and funded ...

Lol, this number is crazy.
Which forex are they exchanging?
Kenya has about 80 forex bureaus, Nigeria 5,000.
For retail customers o.
Investment / Re: Treasury Bills In Nigeria by Cyberknight: 6:13pm On Sep 05, 2020
Of course CBN sees high-profile cash movements.
And CBN also sees what it wants to see.
This is Nigeria and many are above the law.

Also 2 elections are coming.
Forex is needed.

1 Like

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