₦airaland Forum

Streetinvestor2:
I have said it severally that nothing good comes from south Africa to Nigeria. Mtn is a criminal organisation feeding fat on Nigeria economy. They are intentionally declaring loss with collaboration of criminal elements in nigeria. If thr is any country that envies niaja is that useless country. Why nigeria government allows them get away is what I can't explain. The outdated equipments they brought to naija is what they claim to be maintaining with our forex.They are not happy to be forced to list in nigeria. The next useless company is multi choice. All SA companies exploit nigeria people and move back the gain to thr country. And now claim African developed nation

The way you guys attack entrepreneurs needs to be studied.

Is MTN the only company that declared losses?

Are you in nigeria?

Have they increased the prices of their products despite what is happening in nigeria?

Mankind2024:
MTNN is one of the cankerworms, akin to the biblical molt eating worms, a caterpillar worm 🐛 🪱 🐛 that sucks Nigeria's Forex dry.
The rooted problem has existed since its inception, as the then-government failed to enact sufficient legislation to checkmate these Forex-sucking company.
MTNN is indeed unavoidable and undesirable. It single-handedly brought Nigeria to its knees by siphoning $14 billion out of the economy.
Following the paltry regulatory fine of $1.5 billion, which they paid without admitting guilt, I always knew they would get back at the government.
I wonder why the Nigerian government didn't seize the opportunity to nationalise MTNN.
The story of the MTNN scandal, perpetrated with Nigerian collaborators, made me realise that some Nigerians hate Nigeria with passion. The same was true for the P&ID scandal.
MTNN role in Nigeria's current inflation cannot be understated.
MTNN is full of global financial scandal.

Chai,

What did i just read?

Do you know that MTN is one of the companies keeping Nigeria alive?

You avoid the politicians to come and blame MTN for the economic woes nigeria is facing?

All the inputs to production of MTN are imported, from technology used to run their network, to power generating sets used to power their sites.

The cost of diesel doubled under 12 months, the dollar that they use to import their equipment doubled.

It is a suprise that they did not go under.

They should nationalise MTN, men that statement makes me to shake my head.

We already have a nigerian telco company, can you compare its perfomance to that of MTN.

Be careful what you wish for

awesomeJ:
He means you guys should stop calling us -millennials and younger - "lazy youths", AI, COVID, and two recessions have shown us shege 😁😁😁, whereas some of you enjoyed full chicken meals at OAU.

P.S he didn't actually add the chicken part, but it seems fair to mention.

Una dey use Covid and recession as excuse?

How many fetched water from village stream for the family early in the morning before going to school every day?

Each generation has challenges they faced. The successful one are the ones that strived and overcame the challenge of their generation.


There is a generation that did not have internet to buy and sell stocks. The write letter to their brokers. Letter that might take 5 days to arrive.

jedisco:
You sound too emotional. I've learned that when I get too emotional in defending a viewpoint then I'm like missing something. Economic policies are not about emotion or what I want.

First the debacle with the naira was well set in stone 2-3 years ago. When you had people accessing usd at well below market rates and dumping them into the market, the outcome was clear.

Like I said above, against what many think, the actual exchange rate is less of our problem. [/b]What we need is a stable/fairly predictable rate and the right macroeconomic policies.

[b]

Exactly, quality health care, qaulity education. If you know the billions nigerians spend on foreign education, it is enough to make Dollar equal to N200.

The nigerian educational system is so bad, nigerians are going to countries like cyprus, turkey ghana, when we have UI, Unilag, OAU.

Foriegners are meant to be paying millions to school in naija.

Our politicians are busy chasing foreign investors when are universities can generate billions in foreign exchange

jedisco:
No need stressing over these things. Macroeconomic capabilities are not rocket science.

CBN threw loads at to defend the naira at 1500. This was well predictable a few werks back. I remember stating that.

Ultimately I think 1k would be a tough nut to crack. We might get a few dips below but finally settle above.
Just like with mose previous rounds of devaluation and CBN intervention where wide irrational swings are followed by a period of calm in which underlying market drivers then determine the next move.

In the coming months, I expect the currency to stabilise above 1k (happy to be proved wrong). What happens next would not be based on emotions but underlying market principles. If the government has got it right with the economy, the currency would reflect that.

I for one would be quite glad if local growth in our economy can lead to either rapid wage rise or a drop in exchange as people have had less and lesss in real terms over the last decade.

I spoke with a banker friend of mine, who told me that it was Binance that was manipulating the naira rate.

That because a lot of unofficial transactions were going through Binance, Binance was able to influence the exchange rate.

Now that Binance is banned the CBN became the biggest supplier of forex.

So lets watch by how much, the CBN can control the market.

I have to give them kudos for having the balls to take on Binance.

ogawisdom:
Must they always involve BDC give directly to banks and let banks allow us access to at least 500 USD on our debit card for international transactions. Just like it has always been.

Let's kill the USD & crash it to below 800

And that is what is killing the naira.

So you get it at N500, instead of buying made in nigeria products, you go and buy foreign products and expect the naira to remain at N500?

Acidosis:
Not in the way you expect. Inflation affects everything in the same manner. Assume you have N200,000, and you intend to buy an Air Conditioner unit. You visit the market, and the seller informs you that the final price is N220,000. Unable to raise the full amount, you decide to invest in a 2-year bond with the expectation of returning with more funds to buy the AC later. However, you return after two years only to discover that the same AC unit is now being sold for N550,000. The amount you receive from the bond after the 2-year waiting period is only N280,000.

In addition your ability to buy a brand new AC is now reduced, your purchasing power is reduced.

Nakedman:
I like your confidence 🤣. As a business man at heart, I am keeping enough naira aside to purchase as much dollars as possible if it ever comes back to that range..

My buys will start from 1k if it ever drops down there. Until then fingers crossed.

As long as CBN is subsidizing dollars, it will fall.
The subsidy is coming from the FX reserves.
Oil theft is on high rate

You understand the scope.

Lots of people that could not pay their children in US, UK and Canada schools school fees cant wait for cheaper dollar to pile up more. If they ever see it as low as 700 again, they will take loans to buy up dollars.

Until the government starts taking action to develope and deepen the economy, they are just doing bonanza....

Acidosis:
Lol. You still don't get the point, do you? I'm not advocating for currency hoarders. I don't "hoard" either. I invest when I have or need to.

I'm even of the perception that, apart from political sentiments and hoarding, the majority, which are the ordinary Nigerians want Naira to gain so they can go back to the life they had under Buhari. I belong to that school of reasoning.

I saw the unconfirmed report. But have you asked yourself why anyone will sell over 10k dollars at the black market in Abuja at a rate that is significantly lower than CBN and licensed BDC rates? Funny. Do you still think that an ordinary Nigerian is behind this?

Oga Allow people to continue with their beliefs, with time they will get matured and understand you.


A lot of people are waiting for dollar to hit 600 - 700 so they can accumulate more and japa.

Since the naira lost value a lot of people could not meet up with POF for Japa and pay school fees abroad, cheap dollar will make them to be able to meet the rquirements and most will mop up the dollars again.

Nakedman:
All road leads to fsdh for Mutual Funds.

Stanbic just be doing shakara and be offering 13% for MMF. See their Junior brother dey shake body well.

This thing nigerian government is doing. I no understand again.

If they put the rate at 5% they know it will be oversubscribed.

What are they really doing with these rates

Wow

Wow

Wow

I am looking for that guy that was saying Naira will go back to N750 to a Dollar.

The sad thing about all this is that it seems the guys running the economy do not know how to solve the problem.

Why would they say that people hoarding food are the ones causing inflation?

Just a pity.

phadriz:
FYI, I never work for cashcraft, so to you a stock that traded N320 and sold off @ N65 after 11 years after is a good trade? That buttress my point on loan that stocks investment is volatile that you guys should stop this your marketing strategy on loan before the gullible fall victim, since you guys are only after your business.
I repeat everyone that traded stock has burnt their hands one way or the other, you can not always get it right. All analysis are based on assumptions.

Remember below is the genesis of the debate:

Why do people take loans to buy shares?

Just asking experts in the house.

What are the advantages and disadvantages for those who do so?

I gave the guy the disadvantage, it is up to him to take his decision, if he think the benefits outway the cost.

Oga, you are still arguing?

Before it got to N350, how much was it? How much did Otedola buy it? I remember that FO was N5 before it got to N350.




You are still not understanding the point Oga Emma is making. As you continue to argue to prove yourself right, you are loosing the opportunity of taking advantage of the wisdom he shared.

freeman67:
The shameful aspect should be for you and all others that will gather on this thread to look for trouble and later start forming victim. That's something to be ashamed about.

Earlier when all these started, I have berated him and even reported many of those posts here to the MODS without even informing the house that I was going to do it because they were derailing. If the MODs could, they'll testify. However, I discovered that most times you guy would team up and call him. I have highlighted where he called him out but you could choose to be selective. So, I am not justifying anything.

It's just that you guys wouldn't let sleeping dog lie and at the same time can stomach what he will spill out at the end.

Yes, it's a platform where we can disagree to agree but why will you insult me in the first place. You of all people should know that "A mouth doesn't go to another month and comes back empty handed". Thus, when you decide to give, you should be expecting to receive in return.

Who is the you guys?

Show me one anywhere I caused trouble in this thread or on Nairaland.

I cannot imagine I am having a conversation with someone that defends and ethnic bigot.

Talk to me directly and don't say you guys.

It seems you not know the implications of what you are defending.

You do not even know the part of the country I come from you are already displaying your bigotry.

How can you be defending some one that displays so much hatred for their fellow human beings/

What a shame

freeman67:
This was his first of this episode of the Saga. A reply to my message Just asking for treasury Bill calender.



Above was your response.




Of course I was referring to you. Wetin your own mouth come be like, Pig?

Small thing, you will call him out. Once he comes out you will start crying like a baby looking the MOD that will ban him for you. If you are brave enough why not stand for yourself? Why calling the MOD. If it's to talk anyhow to people that don't want problems, you are number 1. Come and face your mate na, no.. you will start crying and calling MODS.

Oga someone comes to a thread for investments discussions, he spews hatred for his fellow human beings, his fellow country men. He shows his deep seated hatred for a group of people just because of the language they speak and you come out to defend him and say, that he was provoked.

Very shameful. I do not think i have seen you condemb his actions.

For christs sake, how can you be justifying the actions of the guy?

If I insult you, insult me back, you do not go and spew hate for your fellow human beings that do not even know you exist.

oluayebenz:
Oga

I predicted 700/USD

Are we not getting close?

What do you have to say now 😊

Bro,

How much is dollar now?


The best thing is to look for opportunities on how to make money from the situation whether it goes up or down.

The people that have the power to make naira to gain value do not care.

oluayebenz:
Oga

I predicted 700/USD

Are we not getting close?

What do you have to say now 😊

1.Do we have average 20 hours of power supply all over the country now?
2. Do we have functional well equiped hospitals now?
3. Have we stopped sending our kids to universities in Ghana, Benin Republic, Europe, America?
.......

If the answer to the above is no, then know that N700 to a dollar is artificial and will not last.

I am looking for people that have experience in the deployment of Sharepoint intranet for an organization.

Reach out to me if you have the experience.

Thanks

jedisco:
Expense ratio and management fees are very high and would eat well into expected returns moreso when compounded. Nigeria is overdue large investment platforms/vehicles with cheap fees

I asked them about the management fee, they said the management fee is spread across all investors, so would be negligible. What they are saying is that not one person will pay the 1.5% but is spread across the investors

VeeVeeMyLuv:
How about this?

Stanbic IBTC Dollar Fund

Stanbic IBTC Dollar Fund aims to provide currency diversification, income generation, and stable growth in USD. It seeks to achieve this by investing a minimum of 70% of the portfolio in high-quality Eurobonds, a maximum of 30% in short term USD deposits, and a maximum of 10% in USD equities approved and registered by the Securities and Exchange Commission of Nigeria.

$1,000
Minimum Initial Investment
$500
Minimum Subsequent Subscription
182 days
Minimum Holding Days

I spoke with Stanbic IBTC Asset management and they said your capital in this Fund is not guaranteed. That due to some circumstances you could lose part of your capital.

VeeVeeMyLuv:
How about this?

Stanbic IBTC Dollar Fund

Stanbic IBTC Dollar Fund aims to provide currency diversification, income generation, and stable growth in USD. It seeks to achieve this by investing a minimum of 70% of the portfolio in high-quality Eurobonds, a maximum of 30% in short term USD deposits, and a maximum of 10% in USD equities approved and registered by the Securities and Exchange Commission of Nigeria.

$1,000
Minimum Initial Investment
$500
Minimum Subsequent Subscription
182 days
Minimum Holding Days

They did not add the part below as seen on their website.

It is an[b] open ended Fund [/b]
The risk profile is “Aggressive”
The expense ratio is 3.5%
The management fee is 1.5%

emmanuelewumi:
There is difference between buying Eurobond directly from the issuer and buying Eurobond Fund


Eurobond fund is a mutual fund that invests in Eurobond offerings and you can buy with a minimum of $1000.


Buying ɗirectly from the issuer , you need $200,000

Oga Emma, Stanbic IBTC Dollar Fund is a Eurobond Fund?

rmx:
It will be there asset mgt arm handling . Someone already posted details above . One of the 2 firms I use

Yes, you are right. I just called them and they said it is the Asset Management arm that will handle it.

One needs to open a Eurobond Fund account with them. You also need to have a dorm account.

After the Eurobond Fund account is opened, you can then fund the Eurobond Fund account with dollars.

The Eurobond Fund account is domiciled with Standard Chartered Bank.

So, even if you do not have a dorm account with Stanbic, you can still fund the Eurobond fund account from any dorm account with charges which include $25, N4,000 and 0.005% of the amount to be transferred.

If you want to avoid the transfer charges, open a dorm account with Standard Chartered, then use your Eurobond fund account with Stanbic Ibtc Asset Management.

rmx:
Which bank

Stanbic Ibtc

rmx:
They invest mostly in Eurobond

I guess so. Since I do not have up to $200,000 I am wondering if that is the only option available.

Oga Emma said he got his through United Capital and can be gotten through Stanbic IBTC Asset Management.

I am wondering if the one from the banks is different from the ones from Asset Management companies.

My bank called me yesterday to invest in their dollar denominated mutual fund.

I guess it is different from Eurobond.

Wow, the way things are going, everyone is betting against the naira. This will make a bad situation worse.

Acidosis:
Do you think ASUU stike is the main reason parents send their kids to foreign schools? Well, private unis are an alternate for ASUU strike infested unis. In fact, ASUU has no direct impact on japa. None at all.

Forex and work opportunities is the main reason Nigerians study abroad. For as long as the average Nigeria remembers that one dollar will fetch him over a thousand naira, japa will never stop trending. You can call off ASUU strike forever, increase lecturers' salaries, and even offer free tuition in public schools..... All those will only appeal to the poor.

Oga, I listted several factors that have to work together with for net forex outflow to stop.

I touched on energy sector, security and education. I used ASUU strike to show it is not rocket science, it is easy to change our educational system.

There were times children of ministers schooled in Nigerian universities, that was not colonial era, as recent as 90s.

Nigerians started sending their children to Ghana universities because of ASUU strike.

oluayebenz:
[b]CBN will definitely intervene soon [/b]but don't know how long they can defend the naira thou

You are very funny.

The intervention that is needed is to have 24 hours power supply so import of petrol/diesel will go down.

Security for all nigerians so that farmers and business men can be more productive.

end to ASUU strikes so that people stop sending their kids to foreign schools....

the list is endless.


the solution does not lie at the CBN but government policies

emmanuelewumi:
N2000 by the end of the current term, if he gets a second term N5000 is possible by the end of his second term

Shebi you dey whine me or your account has been hacked?

If that projection is to be true, that means all the 10 year bonds that were over subscribed the investors did not know what they were doing?

I still believe Tinubu can salvage the situation. This is not a time to play politics but rather to bring in the best brains nigeria has to come up with a solution.

Tobex4realTobex234:
2k by 2025 feels more likely.

Once again invest in dollars now. Forget all these Sukuk bonds.

Note: only do this if your time horizon is at least 1 year

Bro,

You made a very valid point. Holding dollars now seems to be a better investment.

Although i still believe this government can do better than the last government, I do not know if we can see dollar at N900 ever again.