₦airaland Forum

emmanuelewumi:
What of FG, States and Corporate bonds

emmanuelewumi:
It will take a year or thereabout for Treasury Bills to get to 10% and above, my opinion though.

I think one should also be on the lookout for long term bonds that can pay 15% and above

OgogoroFreak:
Honesty, I don't know o. My money just keeps quadrupling from 1btc = $5,000 to 1btc now = $43,000. The profit is like a lie.

I'm cashing out little by little to spread my investment so I don't get drowned in profit cos I know the price must surely come down but this particular happening is really strange. I just don't want to empty my b1tcoin account.

I have sold some and invested heavily in Risevest, piggyvest, opay, and now trying to trade USA stocks using bamboo.

Not scared of losing the millions I put in these fintech apps. Afterall, all the money came from the impossible b1tcoin profit this period.

Lazyyouth4u:
For busy risk averse people that would rather focus on their jobs and real life hustle, the money market/fixed income market is just more straightforward and can be done by anyone. Simply put your money in Tbills, bonds, etc and continue your hustle.

Unfortunately, the rates don crash so risk averse people must enter equities market to get better returns. But these returns come at the expense of one’s time and high stress levels. The manipulations at some companies and those by the speculators and big boys is enough to give man pikin heart attack. Is it worth it?

Personally, for equities (my preference is foreign equities sha), I think investing indirectly through solid mutual funds and letting the fund managers deal with all the wahala of diversification, monitoring and rebalancing is more efficient for busy folks. I will gladly pay the management fees and avoid dealing with all the wahala.

My opinion...

emmanuelewumi:
Registering your business with Corporate Affairs Commission, is different from registering with SEC..

Any company that wants to take money from the public for Investment purposes or fund management must be registered and regulated by SEC

emmanuelewumi:
Just came back from my in laws place on the Island and I saw the advert of one of the digital agricultural Investment promoters from Adeniji to Iyana Oworo.


SEC ought to be hard on all Investment promoters who seeking funds from the public, another one called Oxford Agric has a massive bill board at Maryland Lagos

ahiboilandgas:
needs to enjoy there money abi?

ojesymsym:
The funds they are talking about, is it the ones housed by Stanbic and other pension houses or the pension for government workers?

What I think, everyone should also have a retirement plan outside of their workplace.

Lazyyouth4u:
Boss, to be fair, some of them are doing a good job with the investments. The pension funds do not make the regulations. They only invest the employer and employee contributions for us. And they have smart people like Oga Emmanuel working with them and investing in the right instruments.

Without them, many Nigerians (especially the lazy youths) would not have any retirement savings. Maina and his cronies can not take your money that the pension funds are investing for you.

If you pick the right one, you can be sure of having a decent amount of money when you retire. You may also have to make voluntary contributions that you don’t touch and have other personal investments sha and I guarantee that you won’t be like some of the old retired people in our families that are so broke and begging to survive.

Btw, we have mandatory retirement savings/contributions in most if not every country in the world.

TransAtlanticEx:
Rayray aka ponzi man,I dey your town ooo(Eket).Enroute
Jamestown.
See una man town here as e be like afghanistan

Dsticks47:
Dear all,
With the commencement of the Contributory Pension Scheme (CPS) in 2004, the troubles associated with the Defined Benefits scheme in existence before 2004, including civil servants retiring without receiving benefits for years were put to an end.

The confidence brought by the CPS made contributors nonchalant to the performance of their respective PFAs in the management of their funds which would ensure good return on investment and further guarantee a very comfortable retirement.

The webinar promises to show:

• Why contributors need to be concerned with investment returns on their Pension Assets and the difference it will make at retirement

• What contributors can do to ensure a comfortable retirement and financial planning

We assured you that we will continue to strive in providing you with highly competitive Return on Investment (ROI) on your Retirement Savings Account (RSA), responsive customer relationship and that much needed mutual trust.

The session promises to be educative, informative and a great value of your time.

Please see below details of the event:

Title: The Impact of Return on Investment on Delightful Retirement

Date: Monday, 7th December , 2020

Time: 12 noon

Venue: Zoom

Click here to register: https://investment-one.zoom.us/webinar/register/WN_RmQiEaEaSVqoP12WwnrFXA

We hope to have you on board. Please stay safe.

RayRay06677:
Stop ponzi, if you must invest in ponzi, do so with less than 10% of your investable capital.

Before you nickname an investment ponzi get to understand the intrigues and not just joining the bandwagon to shout ponzi. Every business in Nigeria fails even government has failed (recession). I say if refineries with free crude are failing then everything is capable of failing. Banks with all monitoring still fails how much more business ran by a single man. That's totally different from ponzi from onset. In Nigeria, anything can happen. Pro and anti forex try rest abeg. Investors, if you didn't know what you put your money to, bros maybe you picked that money, for me that worked extremely hard for my money, I knew exactly what/where I kept my hard earned money. No regrets so far and never will I regret.

Can we discuss the new proposed and expected bills.

shalomblue:
2020 has been a year. Let us discuss what you have learnt on this thread and how you have been able to apply it.
For me, the moment I noticed tbill was losing steam late last year, I started converting mature tbill to dollars. This led to about 20 percent gain.
I also dived into stock market and made about 45 percent. Did FGN savings at 9 percent also.

Lazyyouth4u:
Do you know him personally? Does he know you? He can’t be your mentor if you do not have a relationship with him.

I’m sure you meant to say he’s one of your role models

DrAkpa:
Evil and stupid naysayers like u were the reason that thread was closed. if u had minded your business, we will have been in our thread peacefully, so shut d furck up

stevemims:
Bros, kindly help with the bolded

NL1960:
MONEY TRANSFER FRAUD!!!!!

COLLUSION AMONG CBN,COMMERCIAL BANKS,WESTERN UNION,MONEYGRAM,ETC TO KILL THE NAIRA INSTALMENTALLY.

By Chief Anthony Ani,FCA,Former Minister Of Finance.

"A MATTER OF NATIONAL EMERGENCY DEMANDING OUR DEAR PRESIDENT BUHARI'S URGENT ACTION!

"RE: $BILLION DIASPORA REMITTANCES: WHERE ARE THE DOLLARS?"

The above question was posed in an article in The PUNCH newspaper edition of September 9, 2019, by columnist Henry Boyo.

I have been a daily reader of The PUNCH for the past 10 years and I have not yet, read any comments from anyone on this question.

There is a need to discuss this issue, as it appears that there is massive foreign exchange laundering going on in our banks.

As the architect of the Diaspora remittances in 1996, I am naturally concerned at the abuses disclosed by Boyo.

When in 1995, we at the Ministry of Finance reviewed the country’s sources of foreign revenues, we found out that nothing was coming in from Nigerians in the Diaspora, whereas India and Jamaica were living on foreign exchange from their citizens abroad.

When I enquired why Western Union and MoneyGram could not receive money from Nigerians abroad, I was told that it was due to our tax laws.

As a Chartered Accountant student in 1962, I studied Comparative Commonwealth Taxation in Nigeria, Jamaica and the UK, and I found out that the tax laws of these countries had the same wordings on imposition of tax (“tax is imposed on income accruing in, derived from or brought into”).

The question then to me was why income “brought into” India was not taxed in India? On enquiry, I found that India had modified its tax laws to accommodate its citizens living abroad who wanted to send money in foreign exchange to India.

In 1996, I had proposed (and it was accepted by the Federal Executive Council) in a new law, regarding Nigerians repatriating remuneration from abroad, Nigerians repatriating dividends, royalties, fees, commissions from foreign countries receipts by authors, sportsmen/women, musicians, play writers, artist, etc.

Such income repatriated into Nigeria in foreign currency was 100 per cent exempted from tax, provided the foreign currency was repatriated through a domiciliary account with a Nigerian bank!

With the promulgation of this law, First Bank Nigeria Ltd brought in Western Union in August 1996 while the USA(UBA) brought in MoneyGram a few weeks later.

In 1996, Nigerians abroad repatriated about $4.5bn (about 50 per cent of our gross revenue from oil) and we ensured that these amounts were brought into Nigeria, intact, in foreign exchange.

The receipts increased exponentially in 1997 and 1998 and we also made sure that they were received in Nigeria, in foreign currency.

The receipts helped to stabilise our exchange rate mechanism at N82 to a dollar, throughout my tenure as the Minister of Finance, to the extent that the naira was internally convertible currency.

Some years ago, on my visit to London, I went to Western Union office, at Marble Arch, to test by remitting £500 to my son in Nigeria.

I first had to convert the money to dollars and to my surprise, Western Union gave me a quote in naira to be claimed by my son.

I refused their naira equivalent and insisted that my son must be paid in dollars.

It was obvious to me that there was an arrangement between our Nigerian banks and Western Union/MoneyGram, whereby the former pays from their excess naira liquidity while the later retains the dollars abroad.

In other words, the dollar remittance is retained abroad and is laundered by the Nigerian banks. This is definitely against the law which provide that all remittances must be brought into Nigeria in foreign currency via domiciliary account.

If by chance, as in my case, the dollar is remitted into Nigeria, the Central Bank of Nigeria on August 14, 2014, introduced the Outward Money Transfer Service and authorised the same MoneyGram and Western Union to re-export, in tranches of $5,000 per transaction, to Nigerians abroad, on payment of the naira equivalent at the CBN rate of exchange.

Thus, Nigeria is the only country in the world re-exporting its remittances.

It is relevant to note that the naira is not a convertible currency but remittances which are meant to stabilise our exchange rates are re-exported!

There is something wrong at our Central Bank.

It could be that we have imported the mentality of commercial banking into the CBN. We now need real central bankers to govern our Central Bank.

We have central bankers amongst those in the CBN, and we also have central bankers amongst the members of the Nigerian Economic Society or, alternatively, indeed, we can even go outside Nigeria to employ central bankers.

The fact is that the Diaspora remittances are not retained in Nigeria and there is a collaboration between the CBN, Nigerian banks and Western Union/MoneyGram; in such an event, government must investigate the infraction, punish the money launders, and recover all past Diaspora remittances retained abroad!.

Copied!

The Outbound Money Transfer Services must be stopped and all our remittances retained for naira stability and the nation’s development."

October 8th,2019.
Etubom Anthony Ani is a former Minister of Finance,1993-1998.

handsomebolanle:
I do assist people in metering issues and collection... It's not straightforward as you think .. ... .. I will revert back possibly...