₦airaland Forum

@DexterousOne, We hope you are the frugal type when it comes to money management. Pls try to minimize your writing space, you are consuming lots of space with over spacing your phrases and sentences in this thread. Why would you prefer a boarding school for your children in Switzerland?

DexterousOne:
I dont want such "acculturation" for my kids AT ALL


If God Grant's me my wish

My children will go to boarding school in Switzerland
Regardless of where I am based


Those who want to "acculturate"

All the best to all of you

But as for me o


As youths say these days

"Ko necesstri"

You won't be paying sch fees every month, and there are many parents in Nigeria whose kids attend good private schools and don't earn up to 500k a month. I also encourage those Nigerians in diaspora to overgrow the burden of paying school fees for their children before relocating to Nigeria.

DexterousOne:
If you have a wife and three kids

And you bring them back to Nigeria


500k a month wont cut it


The kids have to be in good schools
Commensurate with what they left behind


My opinion sha

Anyone returning to live in Nigeria from oversea should have a minimum of 250m naira in liquid and fixed assets. You don't need billions to live a good life in Nigeria. If you can earn a minimum of 500k/700k monthly in Nigeria, that should be enough to give you a comfortable life.

emmanuelewumi:
Really.

How much do you think anyone who wants to relocate back to Nigeria should have in Investments in order to enjoy his stay

9.8% is very poor for 25yrs bid, no wonder DMO didn't highlight the rate on their website as they normally do. We were saying 11.2% is hardly manageable for 7yrs, but 9.8% for 25yrs is a bad deal. Thank God I didn't subscribe for this bond, not encouraging at all.

Akin3891:
Funny people, 9.8 for 25 yrs bond - fresh issue. I bided 12.6, sure it won't scale through. I will go back to my mmf for now.

Don't blame any account officer for advising you wrongly on how to invest your money, because many of these banking officers don't even know much about investments, they are just there to do their job and get their salaries by month end.

heavenisreal18:
Thanks so much for this advice, it was his account officer that advice he leaves it there that it may rise up again. Thanks for this advice

Very true.. Not until we start using our leaders and politicians or even employees to swear some strong traditional oath of allegiance, things might never change in Nigeria. Most Nigerians are more afraid of juju than anything else in the world. Every option to better our Nigeria should be on the table, we are all sick and tired of this quagmire of a nation.

emmanuelewumi:
Is this correct? True or False

Nigerians won't be easy to reset or change, particularly our weird mentality. Our vice president just said it will get more difficult to fight corruption and change lots of things in Nigeria. You guys are watching the massive corruption rocking NDDC, billions of naira that would have built schools, hospitals, roads, etc was stolen by few, but we just have to be hopeful and positive.

tolajay:
Well, this isn't the first time, neither will it be the last, I'm calling out sweeping generalisations, immoral and illicit acts.

Your comment, perhaps justification, circles back to the "prevalent culture of individual irresponsibility," as highlighted by one of the commentators here.

Many Nigerians see what's wrong with others and how others are responsible for their community/country's woes, without first looking inwards.

Read through the comments again, and you'll notice expressions (Nigerians are this, Nigerians are not that...)portray lack of ownership/stake in the Nigerian project. It's a reflection of the mind. Many are disconnected from being a Nigerian. No identity, no connectivity, no patriotisms.

To restart and reset this country, we need a mental reorientation on what the country is, who we are and our individual cum collective roles in making it worthwhile.

Corruption in Nigeria might drain all our investments and businesses. Considering the embezzlement and heavy corrupt cases against Magu, it is very embarrassing, and this might further hinder foreign investors from investing in Nigeria. I don't just know why, everybody seems to be a thief in Nigeria, even those who are claiming to be saints won't waste anytime to steal if they have the opportunities.

Well, trying to encourage our children to master our businesses when they are still very young often help, but one big problem wealthy Nigerian business men/women often have with their children is over pamperedness. Never allowing their children to fall and stand up on their own. Wealthy business owners in Nigeria always give virtually everything their children wants in life to them without their kids working hard to earn it, this always make most Nigerian kids feel entitled to things they didn't really work for or deserve and it affects their zeal to take over family business, because they are not accustomed to challenges on how to survive in business in the real world.

If you are close to most Lebanese or Indian families, you will notice that these folks always ensure that their children work hard for every dime they earn from their parents, and don't aways have access to family funds without working for it or deserving it. That's is why in Europe or USA, you will find most children from a very wealthy family working in McDonalds or other low paying jobs, to discipline them and let them know how to work hard for every dime and confront challenges in the real world.

emmanuelewumi:
How can we develop their interest in the business?

One of the reasons why it is very difficult to have a 70 year old Nigerian owned family business, we have a lot to learn from the Indian and Lebanese owned family businesses in Nigeria.


It is a waste of capital, labour and enterprise to build a N500 million family business but 10 years after the demise of the founder the business will cease to exist, compared to the Indian or Lebanese owned family businesses that would have grown to a N2 billion Business 10 years after the demise of the founder

Grooming your children to take over your business is not always that easy, the children must first have interest in that business, the family business will definitely fail if you cajole them to take over the business when they don't have much interest in it.

emmanuelewumi:
Our successful businessmen and entrepreneurs need to groom our children in every areas of our business. It is among Nigerians that a child will automatically become the CEO of a family by virtue of inheritance without getting the necessary experience, knowledge and training about the business and the industry

The problem with dollar fund or investing in foreign currencies in Nigeria is, whenever FGN default and cannot pay investors their coupon or interest, those holding investments in foreign currencies are often the first casualty. We have seen it happen in many countries.

X21:
Bond fund 12.17% annualized[img][/img]



bond fund returned 12% pa
[img][/img]
capital rate interest
1 60,000.00 12.17% 608.65
2 120,608.65 12.17% 1,223.48
3 181,832.13 12.17% 1,844.54
4 243,676.67 12.17% 2,471.91
5 306,148.58 12.17% 3,105.63
6 369,254.21 12.17% 3,745.79
13,000.00

dollar fund returned 9.2%
3 months 69
1 year 276
capital 3000
rate 9.2%
add exchange diff between march and July of about 30% dollar fund out performed bond fund

It is unfortunate, without good security in Nigeria, all our tourist sites are useless.

It is really great to know CBN is now working to unify the long overdue naira exchange rate to dollar. CBN should also work hard to reduce inflation, inflation is our biggest problem in Nigeria. A weak naira to dollar is not a problem but inflation of foods/goods. There are lots of Asian countries with weaker currencies than naira, but have a very strong economy and purchasing power. Our greed as Nigerians also play a big role in inflation, I was baffled when govt reduced the price of fuel and most filling stations across the country refused to reduce their prices, few weeks later, govt increased fuel price again and same oil marketers and filling stations increased their fuel prices within minutes, our greed has no limit or boundaries.

It is time for our local and state govt to set up a commission to checkmate the incessant increase of foods/goods by marketers in Nigeria. We always blame things on high dollar, bad roads, bad economy or bad leadership and often forget our complexities as individuals.

As long as the prices for foods and local made goods are cheap and affordable, 95% of Nigerians don't and won't care if a dollar is 1000 naira.

About 3yrs ago when I visited a local market in Malaysia, many of the shops in this vibrant market was lockedup by local police and asked to pay a certain fine before reopening. A certain Emirati man approached me and explained the situation to me that these shops were lockedup because they have incessantly increased the prices of goods, even after receiving warnings from local authorities.

This is the time for Nigerian govt to act against these greedy marketers and help those citizens and consumers who can only complain and cannot fight for themselves.

Godbpraised:
Guys una well done una sabi when international flights resume for Nigeria. This wey E.U don block flights from Nigeria.

I think international flights to Nigeria should resume partially around August/September, those of you abroad should not bother to visit Nigeria for now if you don't have anything critically important to do. Countries are only opening their borders to save world economy from total collapse and not to save lives. The war against convid-19 is still on, stay where you are for now and wait till Q1 2021.

Constant electrical power supply is the only thing that will reliably determine our successful ways to development as a nation, every other thing we do outside giving Nigerians constant electrical power supply is like a square peg in a round hole. Govt should invest massively in alternative power energy like solar, solar can solve 80% of our electrical power problems. Most solars in Nigeria today seems to be faulty or with low quality that hardly work efficiently, the use of solar power in Nigeria should be upgraded, encouraged and heavily subsidised by our govt.

If we still remember Chernobyl disaster in 1986, Nigerians should just forget about building nuclear power stations, because Nigerians don't have the discipline and intelligence to maintain and securely sustain a nuclear power plant.

Nigeria is still the giant of Africa, but a giant still unwilling to harnessed her true greatness. It is sad that some of us now compare Nigeria with Ghana, lets leave that arguments for now. It is going to be great and better for us all if we have a single exchange rate for naira, multiple exchange rate for naira has always been so embarrassing and creates lots of rooms for frauds. A single exchange rate is expected to be pegged btw 380/400 naira, which I believe is a very good start. With the present ongoing policies in Nigeria, I am very optimistic things will change for good in the next 4 to 5yrs. Our govt must also ensure that we have more electrical power supply, to boost small businesses across the country, Nigerians are spending lots of their profits to generate electrical power for their businesses, profits that are supposed to be reinvested in business.

It is impractical for those of us who are not into import or export business or pay school fees for kids abroad to be so worried about naira devaluation, we hope inflation rate goes down as we invest more in agriculture and consume and patronise more made in Nigeria products.

Nigeria will definitely get there in due time, though our rapidly increasing population and the lack of political will from our leaders to get things done had been a big obstacle to our national growth.

ahiboilandgas:
Just dont pill up money in fixed income at poor rate without strategy......even the 11.3 it will take 9 years for investment to double but what the real value by then .....example if with 40m i can buy 5 2 bedroom apartment in festact at 8m each .....with the growing populations what will be the selling price of each by 2030 .....may be 20 m ....so after 10 years my bonds will be around 80m ....how many apartments can 80m buy in same festac in 2030 80/18 =4....so i have lost 1 apartments worth (20m) ......that not my only lost i have also lost annual rents of 2.5m x10 years =25m .....grand lost will be 45m in value ....nb reinvesting coupons =rental increases .....empty apartments =failed bids...

Sorry to slightly disagree with you. Many would prefer to put 80m in fixed deposit and earn 10%, rather than invest same 80m in real estate and earn 20%. Remember you are going to have less stress with your 80m in fixed deposit. Unlike investing same 80m in real estate, where you have to contend with some devilish tenants, costs of repairing facilities in your commercial house from time to time. Real estate is indeed profitable in Nigeria, but you must be ready to face the stress and high blood pressure that goes with it, even if you have a good lawyer or agents helping you out, you can only mitigate the stress a bit, but cannot be completely eradicated.

Nigeria cannot default easily as many here are insinuating, Nigeria is more sophisticated than you guys think, but our biggest problem as a nation is corruption, about 60% of money Nigeria had borrowed so far ended up in the hands of (govt officials) criminals one way or another. We just have to put our house in order. The biggest churches in South Africa are owned by Nigerians, while the biggest businesses in Nigeria are owned by South Africans. It is all a matter of setting our priorities straight.

Philantropists:
I just got similar mail, my N50 million investment went through, I expect an annual return of N5.6 million that will be N39 million interest after 7 years, not a bad deal but i am really concerned what i can achieve with N50 million now compared to N89 million in 7 years from now.

Pls, did you invest through a bank or stockbroking firm? I invested through a first generation bank and I am yet to hear from them.

abimbola01:
https://www.dmo.gov.ng/fgn-bonds/sovereign-sukuk/3209-investors-scramble-for-third-sovereign-sukuk/file

Thanks for posting this info. So how do we know if our sukuk was successful or not?

Nigeria has one of the most unproductive populations on earth. I still cannot understand why some states have over 6 universities, prouducing half baked graduates or semi-literates into our labour markets. University degrees are overrated in Nigeria. It is time for every state in Nigeria to have state-of-the-art vocational institutions. Even if we devalue naira to help local industries, we still don't have a viable and knowledgeable populace to pull the trigger for industrialization.

I think our govt should have some agents assigned to this thread to learn how to shape our economy up and put Nigeria on the right track. It seems those that have the ideas are not in power and those in power don't have any idea on how to lead a nation.

..

emmanuelewumi:
N50 million and below

Thanks boss.

emmanuelewumi:
It is FG Investment products, small Investors will be given high priority if it is over subscribed .

What do you mean by small investor or how much do you need to invest to be treated as small or big investor?

TotoNaRubber:
Did anybody succeed in investing in the Sukuk bond today?
Could you share your experience, did it go through?

Also, I am looking for a business minded young lady in her early 20s or mid 30s as a partner. She doesn't have to be a virgin, pls any recommendations is welcome.
Thankyou.

I think those who invested in Sukuk will know if they are successful or not by next week Wednesday/Thursday. Those with recent happenings with sukuk should pls update us.

Enough of these unnecessary arguments about Ireland or Nigeria vs oversea, it makes those who are educating us on investments to back off. Must we always fight and argue over every little thing, we should learn to ignore and overlook some things in life. The more we fight and argue, the more you guys are killing this noble forum. Remember we have other nationals reading and following all we do here, pls lets stop tarning our public image. Danke.

ahiboilandgas:
The writer must be agents of oversea refinaries owners and their local collaborators (moman and dapman) and sympathizer (ppmc and ppra civil servant s) that want the former arrangements to continue...they are about to loose their biggest petrol importer ...we have spent 65bn dollars importing since 2006 -15...imagine 65 plus the current 35 to our foreign reserves...naira would have been stable

You are right sir, western powers don't want Africans to be self reliance on anything that will affect their markets or economy. I work in an international firm here in Germany with branches across Europe and Asia, the west don't like us for anything. Lets give some kudos to our leaders, some might be corrupt and greedy, but we certainly know what we want as a nation. The ban on rice importation into Nigeria was a big blow to many Asian countries. If Nigeria should banned the importation of electrical generators into Nigeria, many factories that produces electrical generators in Europe and Asia will close up within six months. Dangote refinery is already putting western oil firms into panic mood. We mustn't relent as a nation, we will definitely get there. God bless Nigeria.

Considering the way things are going globally, with unpredictable economic future, 11.2% sukuk is not bad at all. I personally don't believe rates will go up anytime soon. Twice this year in Abuja and Lagos, Bola Tinubu had said that a high interest rate is inimical to employment creation and hurts the economy badly, this is a man who is a god-father to 80% of our economic team, including our Vice President. Any investment above 10% is a good investment, if you can compound your profits, you could end up beating the inflation rate with your earnings.

FGN Sukuk is getting lots of attention from local investors, I have no doubt this sukuk is going to be oversubscribed with about 150%. Most banks are not honestly willing to help customers that don't have huge sum to invest in sukuk, too much liquidity, some banks are even saying 50m and above, and many local investors who are not too familiar with stockbroking firms might find it difficult to invest in this sukuk.

emmanuelewumi:
Also read

Millionaires mind by Thomas Stanley

Investing for the future by Larry Burkett

The millionaire in you by Michael LeBoeuf

Money making secrets by Hal Stewards

Ordinary people, extraordinary wealth by Eric Delman

I will definitely check these books out. Formal education will make you a living, but self-education will make you a fortune. Thanks boss, I appreciate, God bless.

You guys are doing well, I thank you all for inspiring us with different ideas about investments and life. I also thank all those who recommended "The millionaire next door", I ordered the book here at my base in Germany and almost done reading it, lots of informations, I have really learnt great lessons on how best to accumulate wealth. Abeg make una nor fight ohh, we are all in search of a better, legitimate and easy ways to accumulate wealth. God bless you all.