₦airaland Forum

Nairaland obviously housed so much information that it should transformed into our own google. There was a time on this thread when the issue of BDC license acquisition was extensively discussed. Today a colleague came to discuss that someone want to sell off his BDC license to him @17m. I told him it was too high and I began to lecture him on the process of obtaining one from CBN (depositing 35m for a period of 3 - 9month, getting and office space for inspection till when CBN will issue license, then the refund of the 35m plus a 7% interest) and the profit margin he would be getting thereafter. He just opened his mouth as I speak with authority. At the end I advise him not to buy the license more than 3 - 5m.
In my presence he called the owner, the man tried to hide the truth by telling him that cbn will collect 42m, rather than 17m, but he never disclose the sum will be returned with interest

bmarketing:
Interesting...At UBA today I was given a rate of 1% for a fixed deposit of 1 million and above for 60 days or 90 days.

Haba! Minini, kilode, ogini. 1% in an economy of >11% inflation rate.
Then leave your money idle in savings acct.
It's time to ignore these banks and look elsewhere.

Could below serves as alternative to the ridiculously low TBill yields

ahiboilandgas:
aboki they get from dollars from unusual source but in small quantities ..a g boy can sell his dollars @ 320...a returnee can sell at 350 , the night crawer from the ship can sale 330 while an ashi servicing white guys can sell 300

It will be nice getting to know these cheaper sources of USD as long as they are genuine.

OgogoroFreak:
Fear been catch me o

362?
I checked OANDA last Friday, $ was selling at N362. I told a friend I wanted to buy some, then he quickly called his aboki who sold to me @360. Hand delivered at my office.

Donbrig:
Very good that CBN had been able to put the issue of devaluation to rest. The way people were rushing to convert naira to dollar would have been just as terrible as naira devaluation. CBN should encourage local investments, only local investors can secure our economy and future. Foreign investors can transfer all their investments to their home country within minutes, because they are not investing in the real sectors like Nigerians, but in money market.

Don't tell me you believed Emefiele, the economic indices are at variant to what he preaches. I've been around long enough never to trust anything called govt. and it's agencies in Nigeria. Perhaps you need a Fr. Mbaka prophecy to the the direction the Naira is heading. Even if you put a gun to Emefiele's head, he won't tell you the truth. But the obvious is out there for you to discern. With the way they are trying to douse the tension regarding devaluation - I take it as positive to start converting my money to healthy currency At least those at my disposal

IamR:
Since you did not mention the name of the bank, I am sure it is not Zenith Bank Plc. I once left over 20k$ for 2 years plus in my domiciliary account in Zenith Bank and nothing happened to it; 1 cent was not deducted. Except if they charged either my current or saving account to maintain the domiciliary account because when I printed my domiciliary statement of account, they charged my savings account. I was only charged when I transferred and withdrew.

Many thanks.
This sound encouraging. Of course not Zenith.
Kindly share the rate or % charge for transfer & withdrawal.

Donbrig:
I am also very optimistic that tbill rates will start getting better as from February, but CBN must do everything to avoid devaluation, I trust Buhari won't subscribe to that easily this time. Even if we want to devalue Naira, it should not be more than 5% devaluation, anything more than that will plunge Nigerians into more hardship.

It will be nice to see tb rise again, but if you look carefully. Nigeria is not in this alone, all across Europe negative yield tb/bond is the order of the day. So this made me less optimistic.
Aside this, grapevine has it that FG is having troubles serving our loans, so part of the advice given by prof. Soludo team is what is being played out. To borrow at ridiculously low rate to service these loans. Plus the ever increasing (idle) pension funds chasing fg tb and bonds.
Do you know that Union bank commercial paper at 5% was instantly bought 100% by the PFA.
These are no good signs at all.

Akin3891:
Same here, I live on yearly budgets. After getting my upfront on tbs, it covers everything for the year and I do reinvest the surplus back to same tbs. But now, things are not working according to plans, affecting everyone around me,cos if my budget is 70 naira for a week but ended up spending 55 naira, I give the remainder to family n friends who need help, i do this randomly, so this normally reduce the number of calls I get regularly for helps. @emmanuelewumi,ahib n others valuable contributors. Bonds seems a bit hard for me to crack for now but still will love to try, what do you think about putting huge funds into mmf, as in all my savings pending the time treasury Bill's will be better. My reason is that : i can pull out of mmf anytime to face tbs full time whenever it bounces back

Half of my yearly income comes in then month if Jan. Like someone earlier hinted, all the alternative investment options mentioned so far on this forum ain't worth the stress. I've dumped my earnings in mmf. Capital preservation guaranteed. My major tb matures in Sept. And if by then tb still haven't pick up, I'll still move them to mmf.
Sometimes in Dec. I wanted to diversify in dollars ($) savings and investment, one of my colleague I approached to sign my form narrated a rather bizarre experience. He told me he opened a domiciliary account and deposited $500 and after two yrs, he decided to check the bal, lo and behold the money has reduced to $350 in the name of act mtc and commission. ( he quickly withdrrew the bal. to be kept at home. He signed the form though but advised me against keeping my fund in Dom acct.
Those that operate $ bond should please advice me or share their experience.

RealityShot:
Please the current rate for stanbic mmf can be seen clearly on the site below.. Not this your own.

https://www.stanbicibtcassetmanagement.com/nigeriaassetmanagers/personal/Price-History

Cc: Hallenjay

Price history from the link you provided is blank/empty.
Besides I didn't cook up the figures I gave earlier, it was from my personal & practical observation. I maintain mmf account with them and the interest I get now daily [even as at now()] is half of my daily interest mid Dec.

Hallenjay:
Pls ooo. As tins don b like ds.
I need advice
I bin invest small money for tbill which will mature very soon.
I tot d rate will still b gud but reverse is d case and it's my first time.
Now I've two plan for d small change.
I av a 6bed room flat dat I roofed since 2017 and done with d soakaway.I've since left d project bcs of ds investment(i don't earn dt much).
Now am.considering finishing a two bedroom flat out of d 6 may b I can see who will rent it or go into mmf with d small change.
Though wit my calculation the small change fit furnish 2 bedroom but it'll remain small tins like paint or so.at least it ll take it to a taste where rental around dat place can find it worthy.
The second plan is that am thinking I shd send d money into mmf and manage a 10 or 9% interest rate.
This decision is giving me BP because I don't want to mk mistake.
Abeg anybody dat av insight on ds tins should contribute to ds post.

You'll have to reconfirm the rate of return for the mmf o, mine with stanbic that was about 9% mid Dec. Has nosedive to a paltry 4% as at this morning. I really don't understand this 'kain' economy any longer, even in Somalia a country without a functional govt. things ain't this bad

kolagbemi:
Let me say i have read lots of negative feed back as regards this Keke business. At the beginning of 2019, i sat down and did projection on hire purchase and decided to try it out. I was Jobless for close to 2years and was desperate to do something. I got a loanof 2million and put everything into the business. I started mine on hire purchase plan in February 2019 with 3keke at 690k for purchase of New Bajaj and license registration.

My experience is here in Kurudu/Nyanya area of Abuja and I deal only with Hausa guys. I had intention to involve Police and Lawyers at the beginning, also wanted to put comprehensive insurance, with health and life assurance for the hirers but I jettisoned them all one by one due to the fact that I was lucky with the drivers i got.

Next month will be 1year since i begin, though it is not as smooth as i thought it would be, but it is not a bad venture. The Major obstacle to meet up with my projection was even me and not the business performance. I nearly finish my capital myself.

I had a projection of ploughing the money back to acquire more as the repayment of 20k weekly are made and it hit a total amont to buy another one. The first 6months were perfect but then i started to deep and into the capital due to challenges from home front. I should have hit 10 keke by now but I have 6 keke instead.

The hirers performance is close to 80%. One of the first 3 keke has missed just thrice (3weeks 60k) in all the one year. Another which is close to 8months now missed a week payment. Out of the 6keke only 2 are not doi g excellently well which I have retrieve Keke from them and give to another hirer.

I don't call them, i have never had issue with any of them. In fact, one of them, I only saw him yesterday since I gave him keke since February 2019. He came to checkhis balance.

That's my experience here in Abuja. The FCT administration is now limiting the activity of the keke which have now affected my going forward with it. I am now in the process of windingdown the business here.

Interesting!
Necessity they say is the mother of invention. I'm sure your experience will go a long way serving as a guide to would be investors thinking in that direction. Thanks for sharing and may God bless and prosper you.
You should try to have the keke insured to avert risk. It doesn't cost much.
For 3 consecutive yrs, I was paying premium (comprehensive) on my wife's car while my company pays for mine, just last year I decided to do third party insurance. But guess what that was when the car had minor accident which the insurance would have paid for.

eagleeye2:
How do you manage your Keke? I am just branching out into the Keke business model of higher purchase (though I did interstate before, but it didn't profit me).
I have one Keke, and would love to add one more this year and add one every year until I gather a sizable number. Abeg tell me more about how to manage them?

I was about asking him same question, because I use to hear funny experience and stories that touches the heart about this keke business. Perhaps he's a police officer or enjoys making troubles (no joke intended). Because majority of those riding the keke are trouble makers who wouldn't want to pay the owner even when they are making a kill on daily basis.

Kolping:
FGN Savings Bond January 2020 Offer Rate

2-year: 7.144 % per annum
3-year: 8.144 % per annum

https://www.nairaland.com/3658395/fgn-savings-bond

Really?
Even Bond going south. Indeed the handiwork of the Economic Advisory Team. My advice for investors is to be careful with their hard earned funds, and be mindful of investment opportunities and proliferation of mushroom investment houses springing up lately. This is an interesting times in 9ja. Still don't understand the game plan, our neighbor (Ghana) had pretty good rate for their TB. Not that 9ja economy is doing better. I'll rather leave my money idle or in mmf than going for 5% TB or 8% saving bonds

richforever123:
I swear, it is demoralizing, MMF pays Quarterly, and there are different types of MMF, some MMF invest in Equity (these are risky but with higher returns), while others invest in TB and other fixed Assets (these are less risky and claim to preserve your capital), to get their rate you may need to contact them directly, it is usually between 9% - 11%

What type do I have with stanbic then? my money gained fixed incremental sum daily. From my calculation it gained 8% p.a. hence I get the daily fractional increment as monitored from the App. Not bothered with the little return though just using it to aggregate funds till Jan ending.

emmanuelewumi:
N25 million will buy you 5,800,000 of UPDC REIT and will give you an income of N3.3 million by October 2020.

Google UPDC REIT they have investments in a number of highbrow property valued at over N30 billion and also have over N5 billion of part of the rent collected over the years invested in highly liquid assets suchTreasury Bills, money market funds, commercial papers, FG bonds, State bonds and corporate bonds

I admire your intellect when it comes to investment portfolios, I've never heard of UPDC REIT. Is the capital quaranteed?

Will definitely do some findings on them. I need something long term in nature. All things being equal I don't think I will have need for fund in the nearest future.
Though my major TB matures by Sept. Was lucky to lock them in when tb was 13%. Though will have about 7m from other sources by Jan ending which I'm planning to put into digital agric or mmf.

chigo4u:
Besides the only largely successful business of Dangote is Dangote cement where he operates alone, he is not an example of the ideal businessman to me. A enjoys govt backing. If we were to judge by his other business ventures like his noodles then I wonder if he would still be regarded a success story in the Nigerian real sector

You said it as it is.
Dangote has govt policies protecting him - more or less creating a monopoly, the case with ibeto is still very fresh in our mind.

For his refinery he's getting $ from CBN at a ridiculous rate, while others in real economy are ask to source from black mkt or N363.

On daily basis, you see FG delegation from VP, to the entire senate and house of rep or even governors forum visiting the site while our national refinery has been left moribund for ages (is the eko refinery a national asset?).

The truth is that Dangota can't do well in an ideal economy. Right now he's having difficulties in Ethiopia and in a complete mess in Zambia where his cement are found to be below standards and has failed all the stress test. But in Nigeria he's a sacred cow no one dares to touch. His trucks creating nuisance on our roads (no thanks to our leaders that allows just one functional port in a country that is import dependent).

For those thinking his refinery will bring succor to our ailing economy should beter have a rethink coz his cement didn't do any better, same product in Ghana sells for half the price in Nigeria.

emmanuelewumi:
You can go wrong when you use dividend yield as your guide

Nigeria Brewery at N140 paid a dividend of N3 that is a yield of less than 3%, international brewery has not paid a dividend in 5 years. How come your stocks ate in the brewery sector are you a Shayo?

Pension fund are invested in stock, they invest in companies that have been paying dividends consistently for 5 years and above.

Dangote Sugar at N10 last year paid a dividend of N1.1 that is a yield of about 11%, with the closure of the border the financial performance improved tremendously currently at N14.00 and will pay a dividend of at least N1.3 which is a yield of 9%

I always tell people not to over pay for an investment be it a property, Stock or a business. When you over pay it takes a longer time to break even, make sure that the cash flow from the investment can pay back the amount invested within a reasonable time which should be a maximum of 10 years .

Advise noted.
But will NEVER put a kobo into Nigerian stock.
Some of the scenario you painted above: a PFA that bought a share for N140 got dividend of N3 consecutively for the stipulated 5yrs = N15 gain and lost N90/share is that a good / viable venture?
Let me reiterate, I'm sticking to what I can understand with proven track record, things one can analyse with available data and predictive analysis and not a lottery/gambling - 'maifada da chikawa'
On a lighter note - I love beer.

emmanuelewumi:
I always advise people to start small and get educated about what they want to invest in.

A guy here Seyisanya bought at less than N6 in September and he is sitting on 50% profit.

On a personal note, I'm done with Nigerian stock market. Even if Warren Buffet advise me, I won't change my mind. It's highly unpredictable and can be liken to baba-ijebu or bet9ja.

I have some Unic insurance I bought way back, not even a kobo return over these yrs.
Same with Nigerian Breweries share bought about four yrs ago at about N140/share now selling at about N58 or so. And these companies are still in business.

How can one explain bizarre news below from Nairametrics.
International Breweries end 2019 as worst performing stock.
By Blurb Team @Nairametrics- January 2, 20200
International Breweries announces changes in management
Wealth NG ads
International Breweries started the year on a bounce hitting a high of N52.26 and about two weeks later it hit an all-time high of N58.69. Shareholders who still own the stock will remember this was in January 2018.

It’s been downhill since then, closing 2018 at N27.97 a 46.4% negative return and one of the worst performers that year. As if things couldn’t get any worse, shareholders faced another tumultuous 2019 with the stock closing 2019 at N9.4 and a negative return of 69%

With that, Nigeria’s second-largest brewer by revenue, International Breweries has ended 2019 with the unenviable record as the worst-performing stock of the year..

Below is an indication that Tbill isn't going to recover/rebound soon.

FG offers fresh savings bonds to investors
Published December 3, 2019.

According to the DMO, the closing date of the offer for subscription is December 6, and is due for settlement on December 11, while the coupon payment dates of the bonds are March 11, June 11, September 11, and December 11, 2020.

The DMO said the two-year bonds would be due on December 11, 2021, while the three-year bonds would be due on December 11, 2022, at the annual rates of 9.091 per cent and 10.091 per cent respectively.

lancee:
He said the current government “came in at a time the reserve was $31bn and we did not devalue, so there is no question of a devaluation simply as a result of the reserve level falling to $30bn”.

FX reserve unlikely to fall to $30bn, no devaluation on the horizon – CBN

I hate to discuss politics but this govt is taking us to be fools, no govt in the history of 9ja has ever enjoyed the good will bestowed unto the PMB govt. We love him without using our brain, we gave 100% support for petroleum product price increase, same offense we crucified GEJ. PMB and his team is good at just one thing 'telling stories and make beliefs'
There's no iota of truth in the above gibberish from the CBN, initially they told us the reserve was empty when they assume power, now its $31bn, and with all the unprecedented borrowing they have managed to save $9bn. As at 2015 our external borrowing stood at $12bn, now external borrowing is now a whopping $27bn, while internal is $56bn. The sad part is that they are asking for a fresh $30bn loan. Did I just read they never devalue the naira, perhaps they forgot the naira was N197 to a $ when PMB came to power.
The two premise upon which Emefiele believed will determine the fate of the naira are not within his control, oil price which is by implications determine external reserve - he can't do nothing about the two, that shows the kind of economics our CBN gov is practising. It is crystal clear that oga is out there to impoverish the masses while allowing a few cabals to increase their wealth. Or how do you explain tb going for 6% while omo (exclusive to the few) is doing 13%.

PFAs invest N6.8tn pension assets in govt securities.

The economy cannot grow this way. PFA with staggering N9.8tn in their portfolio should sponsor a bill to enable them build infrastructures on their own like; modern speed of light rail, road networks, sea/airports and run it professionally. Helping this lazy govt source for fund which a sizeable chunk will be mismanage is like a spoilt child with zero intellect inheriting a fortune. In no distance time what will become of the inheritance.

ahiboilandgas:
With the airpeace saga....my earlier post on most wealthy Nigerian bussiness having criminal background,shady investment initial capital then they go through several years of cleaning to make the funds pure .....they either contraband importer turned manufacturing firm or dollars roundripper turn airline operation so subsidy scammer turn depot owner or politician turn 5 star hotelier ....we don't have genius inventors billionaires like other capitalist climes

Copied online,
Indept analysis of how Onyema made his money...

THE SECRET HISTORY OF MR ALLEN ONYEMA’S WEALTH

Ata Ikiddeh

I have taken out time to research into Mr Allen Onyema’s past and what you will read here should be of interest to every Nigerian. You will decide on the guilt or innocence of Mr Allen Onyema.

Article:
In 2007 when Yar’Adua mounted the rock, the Niger Delta was no man’s land, it was a region devouring itself. The Niger Delta was a warring nation and Nigeria the occupying force sponsored by neo colonial imperialist oil companies, according to the agitators. Militants who branded themselves freedom fighters had shut down the region, no barge, oil tanker or oil pipeline was off limit.

Kidnapping was no longer a menace it became a nuisance, neighbours were kidnapping one another making quick easy money. It was a miracle Nigeria was still pumping crude oil. Before the elections in 2007, production had dipped to 680,000 barrels per day, from 2.2 million barrels, just over 25% of its original output. President Obsanjo a civilian President a relic of Nigeria’s military dictatorships wanted peace but hated the word diplomacy. I had this ‘ they will see me’ attitude.

But Yar’Adua was different, he was desperate for peace but had no road map. But he had heard of a certain Robinson Crusoe / Rambo type man, a man who was virtually living in the creeks, in no man’s land. This man was living in the war torn mangrove swamps, a weird nutter who was friends with the soldiers, the militants and the oil companies.

He was making a living being the only mediator in the creeks. The militants would only listen to him and no other. He was the one who convinced the militants and told them Amnesty did not mean Surrender but Development That man’s name was Allen Onyema, a lawyer. He this crazy idea that PEACE was possible.

It is not clear when Mr Allen Onyema started the Foundation of Ethnic Harmony in Nigeria (FEHN). But FEHN’s tremendous growth was as result of his unusual patriotism. Barr. Allen Ifechukwu Onyema was a lawyer who had graduated from the law school in 1989. He had a stint at law practice for a few years but was strangely drawn to conflict resolution, he was passionate about Peace. He is one of the few Africans and perhaps the only Nigerian who has been given the prestigious much coveted Martin Luther King Award.

He facilitated Peace and Reconciliation during the Idiaraba Ethnic violence in Lagos 2003. During the same period he brought Peace between the warring Yorubas and Hausas over the Lagos abattoir. In 2004 he sponsored a project called Nigeria Forever Project in the 36 States between 2004 and 2005 to promote a broad based Nationalism as against Ethnic Nationalism, it was a huge success.

These early forays on various peace projects prepared him for the Niger Delta bloody imbroglio. He waded in when there was a red line between battle hardened Nigerian soldiers and amulet wearing militants who believed their skins had been transformed to steel by black magic.

Onyema used his own funds to sponsor youths to the Nonviolence training and transformational programmes long before the Oil Companies, Federal Government and International Community began to partner with him and invest in his training programmes. The impact of success which FEHN had with the transformation of restive youths drew the attention of Shell. Prior to their encounter with FEHN, they had constantly experienced shutdowns of their operations due to the violent activities of restive youths.

These endless disruptions came to an end when FEHN trained and transformed several youths, soon other Oil Companies like Chevron, Afren Oil etc, joined in the sponsorship of youths to the FEHN training. Onyema’s method had stopped a complete shut down of the oil industry and the oil companies were happy pay him for his services.

Onyema’s methods caught the attention of not just the International Communities, but President Yar’Adua; Onyema was the nexus of Peace and Diplomacy the Federal Government had been looking for. Chief Timi Alaibe with the NDDC , got Barrister Allen Onyema and his organization - The Foundation for Ethnic Harmony in Nigeria (FEHN), to train and transform over 600 youths of the Niger Delta.

It was the success of this program that finally convinced the Yar’Adua to declare the Presidential Amnesty which was granted to Niger Delta Militants. Mr Allen Onyema’s hard work had finally paid off - he landed the biggest contract in Nigeria - FEHN was given the sole responsibility to rehabilitate, train and transform over 30,000 ex-militants.

He oversaw the disarmament and demobilization of over 30,000 ex-agitators and he superintended in the skilling and reintegration of these youths into the civil society in an ongoing reintegration programme. Thousands of militants were flown abroad for various kinds of training in non-violent Conflict Resolution, Aviation and Deep Sea Welding.

Here was a remark by an article at the time, “A seemingly insurmountable task which posed impossible for several years finally generated positive results at the intervention of FEHN.

This incredibly remarkable achievement is one of the most laudable landmarks of FEHN for not only the Niger Delta but also the Nation in its entirety. The acheivement of this feat helped to rebrand the face of the Nigerian Nation before the entire world. FEHN successfully trained the Ex-militant leaders on the Kingian Nonviolence Philosophy. This laudable occurrence could not have come at a better time, as the Leaders are not just embracing the Peace culture, but are already training others.

Barrister Allen Onyema, National Chairman of FEHN achieved this feat against all odds, at a time when it seemed impossible. It was so rewarding to see the commitment and enthusiasm which the leaders displayed as they began to chart the noble cause. Among the Ex militant leaders present at the training are Farah Dagogo, Boy loaf, Sele etc”.

When Jonathan took over in 2011 he appointed Kingsley Kuku as SA, Niger Delta and Chairman of the Amnesty Programme in January 2011. He spent billions to stop the violence and fund FEHN. The NSA budget in 2011 for the Amnesty programme was - feeding allowance (N48 billion), operations cost (N20.796 billion), reintegration of transformed Niger Delta ex-militants, 2010 arrears (N4.174 billion) and reintegration of Niger Delta ex-militants (N925 million.

In 2012 Kuku’s Amnesty Programme controlled a N60 billion budget about $350 million USD). President Jonathan was determined to rescue the dwindling oil revenue - he spared no cash and this time FEHN was given the sole responsibility to rescue the nation and save Jonathan’s government from siege in the creeks. Onyema was successful. He did a job and got well paid for it.

People who may wonder why his outfit was the only Social enterprise contracted to oversee the entire multi billion naira programme can take that question up with the former President, it has nothing to do with Mr Allen Onyema. He was a man doing a job and got paid for it.

By January 2012 Allen Onyema had made a tidy pile for himself he paid tens of thousands of dollars to the Obama campaign support.

In January 2013 he was invited for an Obama victory party and was honoured with an exclusive photo-shoot with President Obama, Vice President Joe Biden and their wives.

That same year he laid out plans to invest his fortune and Air Peace was established. A symbol of his years of non violent Peace projects in Nigeria.

zohan101:
Please quick question for those into money market funds..Can I make regular money addition to my portfiolio via the app??



Cc Sir Emmanuel Ewelumi ..Thanks Sir

Even daily top-up is allowed.

Jupiter7:
Does money market fund have an automatic reinvest plan. I can also withdraw anytime I want.
Also I live in Owerri and first bank money market fund does not have a branch in Owerri. Is there a better option for me?

I can't speak on FBN-MMF, I use stanbic, and i watch my money grow daily.
You don't need to look for specific branch solely for money market, any first bank branch should be able do mmf. I'm very conversant with Owerri and environ, there are lots of big fbn branches, from whetheral road, Douglas rd, Okigwe to Alvan. Just walk into any of them and make inquiry

niyoni:
Fellow TB brethren, I greet you all.

I understand that this thread is mainly for TB but the bottom line is to make more money for ourselves.

Sensible leads and suggestions are highly welcome.

If you have been following the thread lately, other viable options were suggested some of which are MMF, FGN saving bond, FGN bond, invest with digital agric & fin tech (caveat emptor). Crowdyvest offered 22% for those who bought into their plentywaka - you can see the buses along Ajah routes.
Stocks for those who has the knowledge.
You can also venture into Ghana tb currently doing about 17.5% p. a provided you can obtain the required documentation (residents permit).
You can also convert you fund into hard currency $,£,€ etc and do eurobond (you preserve you loot in case of devaluation of naira by our voodoo economist cum cbn gov)

Some microfinance bank are also returning attractive % depending on your risk appetite.

So the choice is yours to make.

More troubles for Nigerian ailing economy, remember the $9.6bn judgement in the UK; if 9ja eventually losses this case and is forced to pay the total sum, from our meager $39bn ext reserves then we should be prepared for a mega recession.
Honestly all Nigerian leaders past & present will never know peace either dead or alive. They have gambled with future of its citizens.

Excerpt below;
$9.6bn Judgment: Nigerian Government To Pay $200m P&ID Deposit Monday, Firm Claims
The British court had asked Nigeria to pay $200m security payment in the court’s account while granting request to stay execution in the award of $9.6bn award in favour of Process and Industry Development Limited.

emmanuelewumi:
I know Stanbic has a dollar fund, I think Jejebaba has one with them.

FBN Quest and United Capital are the two firms that I am very familiar with and they both have Eurobond funds.

CBN is trying hard to defend the Naira, I wish them the best concerning this

Dear Elder,
Can you shed more light on the cost of maintaining a dollar account, few months back I foresaw current doom in TB plus the looming naira devaluation. But from my investigation it's not cheap to maintain $ account either, series of charges either you deposit, withdraw, transfer or even on investment. This made me shed the idea. If anyone has a first hand information of these cost, I'll be glad to have it

9jatriot:
Many of us who now hide in TB have had our hands burnt in the so called real sector. The problems there are mostly the fact that everyone wants to scam you. Then there is the unfriendly business environment. I think we are not as resilient as the Lebanesse, Indians and Chinese to succeed in hostile business environments.

Those Indians, Chinese and lebaness are crook, if you know the kind of shady deal that is going behind the scene.
They don't pay tax and have perfected the act to circumvent the system. Check their books, they have series of account they maintain, one is perpetually in red/loss that is what they tender for govt scrutiny. If they are producing Alcoholic drink they under declare qty produce so they won't pay actual excise duty fee.
I once had encounter with a Chinese firm, with one visa, they can bring in 40 people into Nigeria and keep them inside one compound.
Our banks also prefer to lend them money without collateral due to their skin color, which they won't do for fellow Nigerians.
If you work for them, you'll always be in debt as they won't pay you living wage and no job security. Lastly they treat Nigerians/staff as rags while thy make billions from our economy. These money are usually repatriated to their country through fraudulent means with the help of unscrupulous bank staff and the like of Monpha and Huspuppi
They can only thrive in a system like ours