RayRay06677:


why exit when rate is constant, I didn't invest to exit. even mutual funds, u cant exit immediately, even our tbills, u cant exit without penalties.

lets different a failed biz from ponzi, I expect a Nigerian biz to failed, we are all risking everything in this country. [b]the higher the risk, the higher the returns[\b] invested a fortune here, and its sweeting me for body. Greatest decision ever taken. 2020 is my best financial year despite I started forex in September and lowest tbills rate. Even did tbills at 3% because I had nowhere to go. make una leave me alone

You see thebolded
I agree with that

maishai:
I know of a man that just kept buying up shares during the share craze....... He bought for all his children in different banks, He bought for his mother, He bought for his father and his siblings, He helped out some of his friends too to acquire shares in different banks, all to the tune of 25 to #30million.............................................................................. He started letting all this things out when things were not adding up, the few certificates that finally arrived by post some of this banks are now dead, I can imagine the stress he would have gone through in trying to recover dividend of his father and mother that has got some weird signatures...........

The fact that we are here on this thread on Nairaland shows we are learned a bit, but the bulk of the wealth Nigeria holds is in the hands of many unlearned folks who have got bad or would i say selfish advisers surrounding them

Paper work might be breeze for us but there are billions of millonaires out there that cringe at paper work

You have raised a very valid point
And I think some of these brokers know
Thats why they make things a bit more cumbersome
To discourage as many as possible from claiming the dividend

ositadiima1:


Why are you so eager to defend MBA, enjoy your loot nah.

40% return on forex trading is not attainable, at least not regularly. Chai, na only u dey the market. Mind you any expert that has such capability don't need your money, even with one million naira starting seed, giving enough years, that guy will be richer than Bill Gates and Elon combined.

At 40% monthly return the risk will be catastrophic, the best in d game maintain between 5 to 10% monthly return with moderate risk. Don't even argue cos it is public knowledge, google returns from d best edge funds.

Even HFT, high frequency trading algorithms, run by PhDs and computer scientists don't make 40% monthly, talkless of some bunch of guys using TA and manually placing trades.

Make I no hear that 40% again from ur mouth.

Well, such high percentages definitely cannot be on a regular basis

Nwokeomajayb:
Oh no!! Damn

Okay sir
Thanks for the meme....
I'm definitely saving this one
Lmao
Bwahahahahaha

VULCAN:
Buhari is not to blame for where we are now.

But those who voted him in are!

He was a bad product that was rejected 3 times by sensible people.

Those formerly sensible people became stupid and voted him in.

You aptly described the situation

RayRay06677:


like when u buy 50kobo and the next day it becomes 2kobo, what are u withdrawing or who will buy from you?

You see
That's another sweet thing about the Nigerian Stock exchange.....
No single equity can lose more than 10% of its value in one day
And you can always exit your position ASAP
Especially when the stock is liquid
Personally, I am in "one chance with UBN, and will exit that position when the price comes up just little bit, and then take a loss and go...

Or I decide to hold the stock, and them recieve the dividend before mid year
Then exit maybe in Q3.

When it comes to forex, do you guys have the luxury of exiting bad positions taken?
I'll really like to know

RayRay06677:


what do you know about forex? can we share. everything you know.

We also have equities that have never paid a dime, that have failed, can we call such stocks ponzi?

You see, that's the interesting thing......
Stocks could be quickly exited if you made a wrong pick
Or things turn for the worse for the company

If your investment objective is dividend receipts (like myself for example) ; you wont even go near a stock that does not pay a dime as dividends
Unfortunately I dont much about forex
But I know one thing
It's a very volatile place
It's like the wild west

Kondomatic:
A thread to address the menace called African time was created @ exactly 1:16PM.





Its now 1:34PM and people still haven't showed up to comment

Lmao

Lazyyouth4u:

People must still dematerialize their paper shares before they can start receiving their dividends online. You can’t dematerialize your shares online sir.

Have you ever tried to obtain a Letter of Administration? There is no way that can be done online sir. It is not an easy process especially if there is a lot of assets and family members involved. It’s not the kind of thing that is done online. Anyone that claims he’s an online probate services provider that processes Letters of Administration is most likely a yahoo boy waiting to defraud innocent people that have lost their loved ones.

So your argument is....
Because of the cumbersome nature of jumping through those hurdles to get the dividend mandate sorted out, many just abandon it and write it off......
well, that could be the case sha

But between the money going back to the company /registrar or whoever collects the statute barred dividends
And the government taking the money under whatever guise, or for whatever reason,
I think option one is better
Nobody should trust the Nigerian government
The SEC is trying sha
But the dividend claims process could be made even simpler

drealj:
Mad people full this country

Well, let's see what happens this month

If they have no payouts this year
Then the scheme don kpafuka
But let's still see

emmanuelewumi:



Government doesn't have any business with the fund, after all they have collected withholding tax of over N15 billion from the dividends

Exactly my point
When it comes to the government
Especially this government
I dont trust them for anything
Now we are hearing another one, that the state governors or so want to borrow pension funds money

And use for "infrastructure "
I dont trust the government and bit

Leggitsam:

There is no way to avoid government hammer.
Except you don't invest in Nigeria.
Already, the govt has linked all registered BVN, with Tax Identification Number (TIN).
The painful thing is that the tax paying people in Nigeria are not benefiting from the proceeds.
No way out.
The government is hell bent on spending the unclaimed dividends for funding 2021 budget. This is an antithesis, coz government had already collected witholding taxes on same assets.
Nigerians told the government to diversify the economy, this is Buhari way of economic diversification.
VATs increase
Witholding dividends increase
Now CGT introduction is knocking. ��
Let's see how the tax profiling will look.
If it excludes people earning less than N25, 000,000/year, then the government might have an easy ride, but the way this government is broke, they might want to include people earning N5, 000,000/annum and above.
The worst scenario, the government will tax you CGT, if you earn more than N3, 000,000/year.

CGT is designed to tax equity investors all over the world. It might even include foreign assets and equities, Bitcoin and other Cryptocurrency.
Let's expect the worst scenario and hope for the best.

It's a very terrible thing
The corner we are now boxed in

I really miss the days of > 13% T Bill's rate
Seems those days are gone and gone forever

Stocks, REITs, and maybe long term government bonds are what is left

emmanuelewumi:


Dividends become status barred after 12 years, meaning the shareholders can have access to the money again. The money goes back to the company.

Government wants to put an end to this, rather they want to manage the fund until shareholders or their families will come for the fund
SEC is really trying to make sure unclaimed dividends reduce to the barest minimum. They have a portal where you can type your name or your parents names and it will give the list the list of companies where you or your parents have outstanding dividends.

A family was able to retrieve over N10 million from the accumulated dividends of the their father who died 15 years ago.

Shareholders should open a stock broking accounts and allow their stockbrokers and other professionals to assist them with their outstanding dividends.


The major problem with unclaimed dividends is unclaimed shares, up to 70% of the outstanding unclaimed dividends are unclaimed shares. People who used fake names to buy shares, some of them are dead and their families do not know about the Investments.


Before the advent of BVN frausters who have a syndicate with members from the banks, post offices, passport office, licensing office and the registrars would have claimed the fund through identify theft

I dont trust the Nigerian government one bit with this money
Maybe I'm being too paranoid

That said
I think BVN is the single best thing we did
It removed a lot of avenues for "wuru wuru"

TotoNaRubber:
That ponzi scheme promoter has been warned severally not to keep spreading ponzi scheme messages here, unfortunately this thread will be closed down. Treasury bills is finished and the purpose for this thread has been defeated, I suggest trusted parties may share contacts between themselves.
Commenting next time may be met with "Thread Closed".

Take it from me
None of us here are putting our money into MBA Forex
So no worries

DrAkpa:


Important notice for only mba investors on this thread. Please.

Thank you

Dr. Akpa
I'll like to ask you a question

Do you accept that this MBA Forex thing is a HIGH RISK business?
I try my best
Like really try, not to shame anybody who puts his money into whatever
It's just for the person to understand the risk
That's about it

9jatriot:
Aren't you the chap who used to frequently say the president's report card always shows up on your "dinning" table daily? Travelled round the world, with Ghana, Rwanda, Ivory Coast and every country better than Nigeria.
Anyway, try not to push this further, it is still a faceless forum, do not take it personal. Life happens, it is natural to put up ourselves in the best way possible.

Yes
I have been to these countries listed (which btw is not a big deal lol. Travelling to other African countries for example does not make you a "Big Shot" )

Second
The president report card comes to my table periodically

You know what a president report card is?

Every president is judged by a couple of things
Inflation rate
Unemployment rate
Exchange rate stability
Fiscal responsibility (basically the debt position)
etc
In order to do one of my job roles with my team
I have to use these numbers
And "make sense" out of them
So you see what I mean by the presidents "report card?"

Like you said
Let's not drag this any further
Let's lay it to rest

emmanuelewumi:



It can't work.


But we have unclaimed shares, that is the main reason why we have up to N150 billion as unclaimed dividends.


I think after a period of grace of 5 years, the unclaimed shares should be cancelled by the companies thereby reducing the outstanding shares.

My opinion though

You see
That N150b figure is all the government is seeing
They are not seeing that these monies are for people
It's not their money
So why try to collect it?

I think we need to simplify the whole process of receipt of dividend...
I think our brokers can borrow a leaf from how Webull and Robinhood distribute dividends to share holders


And something also tells me.......
That some registrars make it difficult to claim dividends
Probably they have alternative use for the money I cant really say....

I think I am finally ready to take the plunge into this....
Looks like the T212 is stressful to open
I'll just most likely start out with the Nigerian fintech company

I made a small research
And I was reassured
That its relatively safe to invest with them

emmanuelewumi:



Na wa ooo, so somebody can't joke with you again?

Don't mind him, he took the jokes too far

Well....
Maybe you are right.

We have been quoting each other
And going back and forth for months
Have you read in any of our exchanges that I am one BIG SHOT?
Or I control multimillions?


Anyways that said..
What do you think about the move of the federal government want(ed) to make, in "utilising" unclaimed dividends?

Dont you think it's a case of the federal government taking it too far?

XiaoLi:
You are still shaying alaye, no need for all this shalaye.
Let anybody to believe what they think about you.
Just the way tomato seller will believe anybody who quote figures here is lamba or whatever they call it.

Okay Mr. XIAO
You are right
Anyone can believe what they can believe
That's their prerogative

I just felt I should set some things straight
Which on looking back, I think was rather needless
But the deed has been done

I wont quote that person "digging " anymore
Anything he wants
Let him believe

hustla:


You really dont owe anyone any explanation though

You better leave Nigeria if you can LOL

Indeed
That option is still on the table
The focus right now is working as hard as I can to better my financial position even more

If I can get to a point where I can be getting like $1500 to $2k monthly (which btw, I'm still far from reaching that goal)
I'll definitely "expatriate"
Still looking at options though

And yes
I dont owe him or anyone an explanation
But I got "caught up "
Because it's the same thing someone here did to ahiboilandgas.
I wonder what the fuss was about him
Or what would have warranted that

Bakosokoto:
If lies travels far ahead for twenty years, the truth will catch up with it in just one day.
Of what importance is it for people to come online to be bragging and claim what they are not. He who comes to equity must come with clean hands.
Let your yes, be your yes. And you no be your no, is a song by Lagbaja.
When people begin to try very hard to shalaye, (believe you me, true to god, using their finger to touch the ground, lick it with their tongue, then point it to the sky - it only shows they are liars)
Say the truth at all times and keep it simple.

Let me ask you a simple question sir...
If someone comes to lay an allegation that you know is not accurate

Will you just let it slide?
Please answer the question
I'll really like to know
Thank you

What claims really have I made, that whatever he has brought out as "evidence" proves that I am not what I say I am?
Where have i "bragged" that I am a guru and a big time multi millionaire?
Yes my portfolio is worth a FEW Millions
But I have not claimed to be a multimillionaire with dozens of millions in my brokerage accounts

AngelicBeing:
Hian

My sister e shock me too

Anyways I think I'll just stop here

Before I reveal too much about myself
It's not necessary
To close this subject matter....

1) Never have I claimed to be an expert
I only come here to share my thoughts on certain subject matters
That's about it

2) Never have I claimed to be a multi billionaire investor
Yea, my portfolio is VERY DECENT for a man my age (less than 35)
But then
There is still room to do better

3) That claim that I dig across the internet to copy and paste here is also another ludicrous allegation
What gain does one have in doing that?
Btw, since most of the discussions here over lap with my field(s)
Why do I have to "Google"

4) My stance has always been the same....
I'd love to move out of Nigeria one day
Nothing wrong with that
And wanting to move out does not make me a riff raff

5) Betting was a phase of my life I would not go back to.....
Even though I am lucky that it did not destroy me financially
I wont recommend that for anybody

6) Yes, I may be less than 10 years into this, but that does not take anything away from me.
We learn and get better everyday

7) Never did I claim that I am as knowledgeable as Sir Emmanuelewumi
Or did I say I want to be like him
That's your allegation and its false and baseless
I admire him and have a lot of respect for him
And I wish to be like him, or even better, when I grow up

One does not need to be 20 to 30 years in the business in order to give financial advice, or investment strategies
Your first two years may be a rocky start
After that, in my opinion, is cruise control
There are young forex traders who are less than 3 years in the business
But have done amazing things

hustla:




Always Resist the Urge to Shalaye

The ridiculous post he made, broke my resistance lol

Then I began to shalaye

September 2019, because as at then I was yet to even complete the Post graduate degree I had in the pipelines
Decided to try that CIMA UK qualification (the CIMA certificate in business accounting)

Being an ACA
I saw it as the quickest path to gaining extra points then

I registered and wrote the four papers ( that exercise set me back by £480 thereabouts within that month alone, thankfully I was able to pass all at one sitting , because to repay £70 again would have stung me a lil bit)

Now I have the certificate
But I am less keen on going to canada
I'm looking to elsewhere

Will an unemployed low lifer who is faking about his investment be able to shell out that kind of money at one go, and at very short notice?
.
All these detective work and digging through my old posts
Because I made a distinction between earned and unearned income lol
This guy is just an interesting fellow

[quote author=Lazyyouth4u post=96818634][/quote]

Do you know what it means not to have 12 months experience at a stretch for Canada express entry?
That means that you must have been with that company for 12 months back to back

Unfortunately for me

As at then
I hadn't worked for a single company for 12 months back to back , meaning that I can't use them to claim points for Express entry
And that disqualified me
Unless I used my NYSC

Dont you know people change jobs?

Jeez this small minded man
The post is April 2019
A year and nine months ago

Common sense did not tell you that a lot "could " have changed when it comes to my career?

If you dont know how Express entry works
Why dont you ask ?
Dont worry
Keep digging through my old posts lol
Who is the jobless one

TransAtlanticEx:
Well,he is pretty ignorant because for the fact that a person finished school 2016 or so don't mean that the person haven't been productive even way before then.
I started my trading business in 200l,got my first car though a gift from ma at same 200l,I think I made my first million way before then,by 300l I was already a trade expert,so much so that I had to quit school for full time trade(and I mean serious,voluminous trade worth a lot by my standards)
So there's no real proof in what he just pointed out as a lot of students are already working while studying.
If you enter cemetery market for Aba,many of my friends that are doing well were also students at the time.
Aba market by day,umudike by night sorting lecturers up and down.
I didn't finish because I really didn't care about any damn degree as i thought i was good already,so to help with their trash.
If it was now i would have gotten it.

2016 was the year I was cleared to serve
In fact
When I went back to do my clearance
So that I can go to serve
It felt a bit strange
Because CITS had changed a couple of things

DexterousOne:

As for you.. .
I dont even know where to start with you....

This comment has changed like chameleon over three times
You edited and edited it again
So.....
Here is what I have to say to you..

1) I am well qualified (both in education and work experience) to discuss that topic at hand where you erroneously said that there is no correlation whatsoever between passive income and unearned income
I have my undergrad degree in economics,
my post grad degree,
an associate member of the Institute of Chartered Accountants of Nigeria (by virtue of where I work, i qualify to be a fellow in three years from this day, fellow professionals here can decode where i work from the comment i just made )
And while i was still fancying the idea of canada, I wrote and swiftly passed the CIMA Certificate in Business accounting qualification, just for the fun of it
And by 2021 March, After I put APM to rest, I will be an ACCA member

I normally shouldn't be doing this, but I just had to spell it out; so you know that I am not a charlatan who just comes here to talk just because he likes to talk

If I criticise the CBN governor
I have the locus standi to, because he is not more qualified than I am
He is only older than me, and have more years of experience under his belt
Take that away from him
And we are both even
Thankfully some of the frantic moves he has made over the past week makes some sense.
I hope he continues on that trajectory

2) As for my investment journey.
While I have been in this journey for a couple of years now, never did I claim that I was an "experienced investor " like you alleged
Yes I am not a newbie
Cos I've been in this for quite a while
But I'm yet to get to the level of Sir Emmanuel Ewumi yet
And to answer your question
The first stock I ever recieved dividend in, that made me so happy, was UBA
Hope I have answered your question

3) You spoke about betting
Well, I had a short stint in it, and have quit years ago, because it's very addictive
Fortunately for me, the net gains from my misadventures there is still sitting in my brokerage account today cos I used the Proceeds to buy some equities
It's time consuming and not worth it
So I wont advise anyone to go down that road
Not every one was fortunate to exit like I did without a financial blowout

4) Dont you think it is ridiculous to baselessly claim that I and Logo Benz and Transatlantic are the same person?

The next thing you will probably say

Is that I went to oluwole to go get all these certificates I listed up there

TransAtlanticEx:
Lol lazyyouth,and you say I and dexter are the same person.
You must be a psycho to think I will waste one whole year of my life doing NYSC
Weyrey rey ooo...
But I love the fact that you bring receipts sha and burst people with fake stories,kudos kid.

Lol
The guy is obviously jobless

Digging through old posts
To achieve what end?

If I talk more about how i "fixed " my NYSC situation
And how I got my first job
It may incriminate me a little bit

Telling my life story here really is pointless
But this lazy youth guy

Now that you have dug into my old posts......

Let me further clarify

1) I was cleared to serve in 2016
That does not mean that i finished uni in 2016
If you really want to know when i finished uni
Go back to those old posts and dig
If you really have the time for that
And you read properly
(That is if I even mentioned it)
You will know that 2016 is not my actual date of graduation

2) Saying I have no real job experience is also very ludicrous
What makes you think I have no job experience?

3) what does my year of graduation have to do with anything?
Because I graduated my B.Sc. less than 7 years ago, does not mean that I cannot have money to invest
And that does not mean that I was not investing even when I was in school



4) Never for one day have I claimed to be very rich
I have been investing in the stock market for a while
And by the grace of a God I have been able to grow it to a level I am proud of

And yes, I also benefitted from the high t bills rate from back then

5) What really is your problem?
What is your headache?
You really have issues you know?
Going back to my old posts to look for what to "incriminate " me
Or discredit me
Look
It's not that serious
We come here
We exchange ideas
And then we leave
I wonder why you take this space so serious?
Does your life revolve around it?

Lazyyouth4u:

This boy. You finish school in 2016, do NYSC 2017 to 2018 teaching in a village and since 2019 you have been spending all your time trying to leave Nigeria and making noise about Nigeria with various monikers when you are not betting with your pocket money. What real money do you have to invest? That 50 dollars wey your brother dey send you every month for upkeep? What finance and investment experience do you have when you have never held a real job? No wonder you hate Naija with a passion. Lack of job since you finish school don frustrate you.

Shut up boy and learn from people who are experienced and are battle tested. When men are talking, observe and learn. Don’t go and google quora and come and be telling people of your many years of finance and investing experience.

You really need to go and find a real job and gain some credibility and experience before you can form finance/investment guru or criticize a CBN governor that you will never ever be like. Oga Emma wannabe like you. Nonesense!

Owww
This guy

So you went digging into my old posts