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Investment / Re: Treasury Bills In Nigeria by EarlyCareer: 6:54am On Nov 11, 2021
One good example was a while back when someone was arguing that food is much cheaper in Nigeria than the West simply because he was looking at a direct exchange conversion. It was after breaking details down I explained that food is at least 3-5 times relatively more expensive in Nigeria than the West.

When I see some news on front page and how its glossed over, I sit down and think.... Just imagine that 250 kids went to school in the UK/US and did not return cos they were kidnapped.... The president would sure fly in, numerous enquiries would take place, lots of people would lose their jobs, even our own president will 'stand with them' and send consolatory messages. Yet it's become a frequent occurrence in Nigeria.

Another is the complaint about taxes here. Another thing folks fail to see is that Western nations need their citizens to work and pay tax or else, the government would have to pay them benefits. That means that no matter the legal job folks there are doing, the minimum wage is structured so that one can live a sensible life off it. Same also, no matter how high the taxes there seem to be, they are structured in such a way that it should makes sense to work and pay. On the other hand, in Nigeria, you need to work to live.
That's why I find it odd when folks here keep talking about high taxes in the West... If it was so straightforward, folks there would be rushing to live here so they don't pay tax.

I can go on and on.... Fact is it all boils down to perception.... Dangote saying he's broke is quite different from Fashola being broke and also different from the akara lady being broke..

P.s. this has nothing to do with financial instruments

Great perspective.

Again, as much as I agree with you, jedisco, the focus is on the USA. Your comment, while being true, is a blanket statement.

Things are very different when compared with other developed nations. All you mentioned here is well obtained in Europe, Australia, and other good developed nations. My preference for Europe is because people have much better work life balance and living standards regardless of justified high taxes and other challenges too. Of course, nothing is free, the high tax is the price to pay.

In the US, many, and I mean, very many people do not even earn minimum wage, hence the strong tipping culture and overtime drive there (mostly blue collar to be fair. Remember however that blue collars are the backbone of every economy). Many Americans may not be able to access quality health care due to high cost. - the highest globally. I might even say that a well to do/well earning Nigerian with international insurance has access to better health care than most Americans. Unless you have a good job that offers good health insurance a benefit. I'd think that this may be why there is some push for universal health care and universal basic income by leftist politicians...some radical left are even pushing for a mix of socialistic approaches to some of the challenges stated.

Many wealthy Americans or financially independent Americans are considering moving away to better or cheaper cointries such as Portugal etc and in some cases, outrightly denouncing citizenship. There is push for higher taxes for billionaire and wealthy people due to high wealth inequality and many other factors.


Of course, life is more precious there and crisis such as kidnapping and terrorism are taken much more seriously than here in Nigeria where we don't care at all. However, America is still not even a relatively safe country to live in when you consider gun violence, even the same kidnapping too. The statistics is all over the Internet if anyone is interested in checking. I Don tire to dey copy paste.

In summary, the purpose of the previous discussion was to reteriate the importance of having realistic understanding of where young Nigerians want to move to, and to go to much better places if possible. And the great opportunity that remote work provides....USA is not Eldorado, there are other better countries. Opportunities remain there and folks who are strategic and go with the right mindset will still make it.....platforms like nairaland ensure that the right info is shared for people to make better decisions.

Yes, Nigeria is a shithole. We all agree. The poverty capital of the world is currently in ticking time bomb mode. Unemployment is at critically and dangerously high levels, yes. Which is why youths must make the right decision when moving abroad. I don't think a worker here in Nigeria who earns as much as a worker in the same job role in the USA will feel cost of food prices as much as the USA counterpart. I will not explain beyond this. This is my experience.

Edit: on second thought, even a banker living in Ibadan has access to cheaper food prices more than a banker earning the same wages living in Lagos. If you could share a link to where you got that food price comparison, then maybe I'd believe that statistics you mentioned.

I insist. The USA is a great place, however some other developed countries are better. I say this without malice or disrespect to abroadians.


Investment / Re: Treasury Bills In Nigeria by EarlyCareer: 10:55pm On Nov 10, 2021

No b everybody head fit carry am.

That is the crux of the issue. In that same US, this year, several major investment houses bumped the starting pay for first-year analysts to $100,000+. https://www.bloomberg.com/news/articles/2021-08-02/goldman-sachs-bumps-junior-banker-pay-aligning-with-rivals

Amazon employs some 1.4 million people. But while some are being paid $15/hr working soul-crushing, back-breaking warehouse jobs where they have to pee in bottles; others are being paid 80/hr with generous benefits as software engineers for their AWS platform.

Not everyone has the cognitive ability to become a neurosurgeon, $500/hr attorney, investment banker, or developer. The Bell Curve is a pictorial representation of why that is the case. The vast majority of people will work average service and industrial jobs of middling economic value.

Unfortunately, inflation has outstripped wage growth. So the low-skilled, low-wage jobs that used to be manageable in the heydays of American exceptionalism just after WW2 are now grossly insufficient. Cue the left-wing politicians, social commentators, think-tanks and non-profits, and grifters preying on these displeased horde of worker bees by convincing them higher taxes on high earners will be the magic wand.

Because heaven forbids you tell a single mom no one will pay her $40/hr to wait tables as it makes no economic sense, regardless of how stressful the job is or how high her bills are stacked. The human thing to do when your skillset is incapable of acquiring the resources you need and want is to forcefully take and redistribute from those who in your opinion have more than enough. When you can't do it, you lend your support to the mob, politician, or political party that promises to do so on your behalf.

That is the entire 21st century Western labor debate and origin story of "Tax the Rich" slogan in a few paragraphs.

Meanwhile, uninformed suffering-and-smiling merchants in third-world sh*tholes think that validates their assertion that because they're miserable and can't even boast of uninterrupted power supply in a corrupt, nighmarish hellscape where life is ridiculously cheap and laws are mere suggestions, that means everyone is miserable elsewhere.

When all is said and done, over the next few centuries, the Western elite are going to have robots do most of the thankless, unskilled and low-skilled jobs; have a well-paid professional class keep things running smoothly; and place the average Joe and Jane on a blend of welfare packages comprising Universal Basic Income, Unemployment Benefits, Child Credit, free necessities (education, health care) et cetera.

Already, France has an annual federal budget of circa €650 billion but spend a whopping €500 billion on welfare across all levels of government. This is in a country of 68 million people where more than 50% of the population do not pay income tax.


Fantastic perspective shared.

I do hope my previous comments did not send the wrong message. There was no intention to 'diss' our abroadian bros and sister. If it did, apologies.

That being said. The great resignation which I wrote about does not affect only blue collar workers, it also includes 'high level paying' - e.g. senior software developers, big tech, engrs. Now, this could be linked to many more factors asides toxic work culture, and long hours. The covid pandemic helped fast track a lot of other underlying issues too, including general burn out.

It is typical that due to this challenge, and taking into consideration inflation, most companies including big tech will have to increase their wages/salaries/benefits in order to retain and attract workers. - it is currently an employees market in the USA. (Which is a good thing, if you look at it from another perspective). Workers can demand better incentives. Another example, A top earning JP Morgan staff made headlines for resigning to focus on play to earn crypto industry.

Now, regarding us third world workers, many remote works are actually not only in tech. To God be the glory, I do not live a miserable life. There are many more here in Nigeria earning very good wages in top level remote jobs, nor per hour. And yes, the cost of living does favour us, besides the typical Nigerian challenges you mentioned.

Our people abroad work very hard and must be respected for that. The realities of life abroad still remains, just as our reality too remains. Let folks do what works for them. Hopefully, the examples below could help stimulate better conversations.






Investment / Re: Treasury Bills In Nigeria by EarlyCareer: 7:00pm On Nov 10, 2021

Very true. People need to understand that everything is a mirror. If you don't have up to 500k in your account in Nigeria, you may likely not have up to 1,000 Euros here.

Na when I they find house for here I see say nothing concern landlord with where you come from. Once everybody submit his payslip na person wey get most reasonable pay (at least 30% of net) him they give apartments.

Though, the truth is that unlike Nigeria, there are standard laws here like fair enough minimum wages. So instead of being jobless, you can at least get busy with something.

Unemployment rate in Germany is 6%, Nigeria is 33%. That figure is saying that, it is easier to not be idle in Germany than in Nigeria. But productivity is a different conversation from comfortability.

You're right.

There are more jobs available there than here. My views might be a tad simplistic when comparing all these places with our situation here, which is why I said, anyone that does not yet have a good source of income could go abroad.

Europe is better, in my opinion. The choice of where to move to lies with the intending traveller. As long as they understand the realities of where they would be moving to, then they should be able to cope. Regardless, Remote work is the future. Those fortunate to tap into it will get the best of both worlds to a large extent.

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Investment / Re: Treasury Bills In Nigeria by EarlyCareer: 2:34pm On Nov 10, 2021

Na packaging and ability to market yourself make DJ and Nite Club manager in the US, to become the CEO of a quoted company in Nigeria and even married a celebrity beauty queen

Thanks boss. I know the person and company now. grin
Investment / Re: Treasury Bills In Nigeria by EarlyCareer: 2:03pm On Nov 10, 2021

I agree with you, even if you studied Busines Administration and you have built duplexes in Europe and US that experience is enough for you to build 30 storey skyscraper in Lagos and our big men will buy an apartment for a minimum of $1.5 million in that paradise in the sky project

grin Boss, don't shake this table. Story plenty. It is well.
Investment / Re: Treasury Bills In Nigeria by EarlyCareer: 2:02pm On Nov 10, 2021
With the way things are going now, I may just sell my father's plot of land and send my younger brother over there.
I will tell him to learn the accent very well so he can come back, package, open fintech app.
Boom! We are rich.

Chei grin
Investment / Re: Treasury Bills In Nigeria by EarlyCareer: 1:47pm On Nov 10, 2021
This is an understatement!!!

As a freelancer, I recently interviewed for a $40/hr position. I was bummed when I did not get it but that feeling vanished when I stumbled on that subreddit.

Much of the people there are earning between $7 - $22/hr. I even saw where someone is earning $2.50/hr in America! To put it in context, I started freelancing a while back and I was charging $15/hr as a newbie, in Nigeria.

And these positions over there require you working 80 hours a week, at least. For me, it’s a very busy week when I work up to 30 hours. Sad thing is that most of them are juggling 2-3 jobs and still can’t make ends meet!

I am presently camped on that sub and just reading. I am still reading. The fact that this is mostly the experience of white Americans is another thing that makes me shudder. Like they say over there, “If white America catches a cold, black America gets pneumonia, not cough.” So if the whites are shouting like this…

It is well.

True. Inflation seems to compound many of their present challenges too, the bills keep piling up. The wealth inequality is also shocking, and the form of capitalism they practice is also partly the reason why in many parts of their country, workers are threatening to unionise e.g. John Deere. People especially blue collar are also silently revolting. - they've tagged it "the great resignation". Folks are just tired of working. If you'd ask me, they work non stop there. That's a recipe for health disaster

I thought that Nigerian work environment is generally toxic, but after reading a few posts there, I can say its almost the same or even worse there. You can get fired in a second. And once health insurance is lost, one bad illness can throw you into much deeper debt. People are still making it there, but I'm not sure that that number is part of the majority.

Remote work is a game changer for freelancers, and many highly skilled workers. You get the best of both worlds - sort of. Great income via forex, low cost of living, low tax, and in some cases, great benefits and bonuses. If you have a good savings habit and can keep such jobs or gigs for at least 5 years, you'd have accumulated good money which can be invested.


Investment / Re: Treasury Bills In Nigeria by EarlyCareer: 12:59pm On Nov 10, 2021
You and the other poster are obviously just paid agents of China sent here to bring down the almighty US. But your plans have failed.
That screenshot was obviously doctored.

Every sensible person knows that Emelika is heaven. There is no poverty, no sickness, no accidents, no deaths. The roads there are literally paved with gold. That’s what some people constantly tell us here.
Reason I personally don’t joke with people that have gone there. For me, as long as you have worked in the US, even as a gateman, you are basically an expert on everything and anything, finance included.

grin thanks for the laughs.

1 Like

Investment / Re: Treasury Bills In Nigeria by EarlyCareer: 12:07pm On Nov 10, 2021
Still on this US subject, I stumbled on the antiwork subreddit where Americans where bemoaning the fate of their country and how they are poorly paid, with many even calling their country a shithole and asking for Europe to colonize them. shocked

I almost thought I was on nairaland.
It made me realize that maybe the true divide is between the haves and the haves not. All these issues about race, tribe, religion are just mere distractions.

Haha. I joined that subreddit a while back.

Such an eye opener. Abroad is not the eldorado that many young and uninformed Nigerians think it is. The stories of toxic work environments, very low wages and their struggles to make ends meet is quite revealing, and sad too. Many European countries are faring better than the USA in terms of better living and work standards. Blue collar workers are worse hit.

Bottom line, as it has been discussed many times here, if you have a good source of livelihood, forget abroad., or take your time to pick a good country. Some African countries are even better.


Investment / Re: Treasury Bills In Nigeria by EarlyCareer: 12:03pm On Nov 10, 2021

I won't, it is one of the highly volatile stocks which Jijoist love..

The only clue I will give you is this, his first name and that of the company starts with the same letter

Fair enough. smiley

Keep sharing your wealth of knowledge. Your consistency here is well appreciated. We might not agree on a few areas, however, there is so much I and many others have learnt from you, emmanuelewumi.

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Investment / Re: Treasury Bills In Nigeria by EarlyCareer: 7:12pm On Nov 09, 2021

A US returnee earned N100 million as the CEO of a quoted company in Nigeria.He claimed to have worked in the various big organizations in the US. He earned this pay when N180 was equivalent to $1 and he was a Bachelor.

It took about 2 years before it was discovered that his work experience was a DJ and a Nite Club manager.

The guy was mouthed sha, he knows how to communicate and market himself well

grin Naija can package sha....Boss Ewumi, please give us more hints about this person. A name perhaps.


Investment / Re: Investing In Digital Currencies; Looking At The Bigger Picture by EarlyCareer: 7:34pm On Nov 03, 2021
Keep up the great work, Jedisco. Many newbies will thank you for this in the near future.

Me,...been away for a while. My focus is on accumulating mostly eth, and some matic long term. 2022 may be a favourable year for crypto.



Nairaland / General / Re: I Want To Quit Friends & Social Media Because Of Too Much Of Financial Begging by EarlyCareer: 1:31am On Oct 25, 2021
As long as you keep giving, they will continue begging.

In 2019/2020 I gave out almost 3/4 my networth... they kept coming.

The moment I stopped replying them, they backed off.

Funny enough, they wear better clothes than I do.

Very, very true.


Nairaland / General / Re: I Want To Quit Friends & Social Media Because Of Too Much Of Financial Begging by EarlyCareer: 1:01am On Oct 25, 2021
Story of my life right now. I'm so overwhelmed.

The sad part is the entitlement, some will keep malice with you for not helping while forgetting all you have been doing. Almost like as if you are holding a purse for them with money that you must give when they ask. I even shouted out of frustration at a relation that I did not have anymore to give, and the person started shouting back at me till I apologised...the next month, the person called again to ask for money.

May God help our country, the burden is too much on those helping and the situation is so bad right now.


Car Talk / Re: Maintenance Tips On Cars. by EarlyCareer: 12:31pm On Oct 22, 2021

Scan the car, post codes we will take it from there to be able to give advice.

Thanks so much. Will do so and share once done.
Car Talk / Re: Maintenance Tips On Cars. by EarlyCareer: 1:13pm On Oct 21, 2021
Guys, 2011 sienna is showing "check vsc sysyem" and check engine light is on too. Advise from you all would be appreciated. Thanks
Investment / Re: Crypto Currency Investors Thread by EarlyCareer: 1:06pm On Apr 28, 2021

As long as you made an appeal before the 15mins expired, it will be resolved. Once I transfer and it is successful, I immediately appeal. No time. I had 2 cases.

The first one. Immediately I transferred, appeal straight up. Was calling but he didn't pick. I kept calling until he picked. Said he was charging his phone, that's why. I say that one no concern me, just send me my usdt.

The second case, after transfer successful, the transfer next button was saying error anytime I clicked on it. See sweat everywhere for my body because it was close to 6 digits. I can't tell you how many times I click that button with prayer points grin. I kept calling until the guy until i received that text message from Binance that my coin has been sent. See praise and worship.

What I do now in addition to other things, I check the time range you make transfer, if it's not under 4mins, I dont buy.

You just reminded me of one experience I had.

Transferred money before attempting to call the seller. I clicked "transferred," and then chatted the person, no response. Time was running out, I then decided to call...omo, next thing i heard was - the number you're calling does not exist. I tried this 3/4 times, I panicked inside. The account was a Kuda Bank, nothing else to trace the person.

As I was considering to click the appeal button, the person sent the usdt.

1 Like

Investment / Re: Crypto Currency Investors Thread by EarlyCareer: 11:16am On Apr 23, 2021

The most beautiful colors I have ever seen. So glorious grin

Bright colours everywhere, mehn. grin grin

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Investment / Re: Crypto Currency Investors Thread by EarlyCareer: 11:04am On Apr 23, 2021
Good buying opportunities everywhere....problem is no one knows btc support yet. Bought more Eth regardless. In for the long term so it does not really matter to me.

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Investment / Re: Crypto Currency Investors Thread by EarlyCareer: 10:51am On Apr 23, 2021
So beautiful... grin Crypto is one hell of a ride, mehn.

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Investment / Re: Crypto Currency Investors Thread by EarlyCareer: 4:16pm On Apr 13, 2021

Lol.....trying to lure people into a corner where they can be silently massacre, no one to save their ass....Nice one!!! grin Lol....this is so hilarious “Guide each person in buying”.........Lol...it sounds more like “I will need to take my time to dealt thoroughly with them” grin

As per "good samaritan" that he and his cohorts are nau... grin


Investment / Re: Crypto Currency Investors Thread by EarlyCareer: 8:12am On Apr 13, 2021
Risk is good. Calculated risk is better.

The moment you realise that you cannot chase every green out there is when you will truly make money - whether in stock market or crypto. This has been said countless times here....holders make more money than day traders. The highly experienced traders struggle too. Very few strike gold, and they have access to many tools to help them. You do not have these things.

Find a few tokens, do strong research and DD on them, and hold as long as you plan o. Once in a while, enter all these tokens that pump fast like WIN etc, and get out as fast as you can.

In this bull market, it is not right to be losing too much money abeg


Investment / Re: Crypto Currency Investors Thread by EarlyCareer: 7:39pm On Apr 11, 2021

I have stated here severally that I have a moonbag for sturvs like this. Don't get confused, 80% of my capital is used for ultrasafe trades and are only for buying dips on majorcaps and riding 10-20%. By majorcaps, I mean layer1 coins only.

Moonbag is precisely for stuff like this. Risk management lies in capital allocation.

Who decide to risk it all on mooncoins, na their wahala be that.

My response was more like a "Caveat Emptor" to newbies. You seem like a very experienced trader. Enjoy your wins.

1 Like

Investment / Re: Crypto Currency Investors Thread by EarlyCareer: 7:11pm On Apr 11, 2021
Hope you all know that that is a pump and dump (PnD) group you are about to join?

Your money, your choice. Trade safe...

Edit: just to add, this is a faceless forum. As much as we all have conversations here, stay vigilant, be careful of whatsapp groups and telegram groups. Please ignore if you are willing to take the risk...


Investment / Re: Crypto Currency Investors Thread by EarlyCareer: 3:11pm On Apr 10, 2021
he's not there. System has cancelled trade cause of time out

Do a great thing in that person's life, contact the bank where it came from by next week and return the money, if you can....

I know it's hard being a good person, some may call you stupid, a fool.

The choice is yours.

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Investment / Re: Treasury Bills In Nigeria by EarlyCareer: 4:00pm On Apr 08, 2021
Paystack was the fastest way Stripe could break into Africa. That's why they made the purchase. All that revenue stuff don't apply.

Facebook has the data of all of you here, because it would be almost impossible that you guys are not on Facebook, WhatsApp or Instagram.

So not all purchases are for the purpose of profit.

I think emmanuelewumi you once said Seun bought you people's stock market forum and then shut it down. Shey that one resemble wetin him wan use cashout...

This is insightful. However, the ultimate goal of any company/organisation is to make money, that is profit. Anything outside that, you are an NGO or such related organisation.

The core of capitalism is money making, either to crush competition, to sell to competitors or to beat competitors.

The sole aim is money, bro


Investment / Re: Treasury Bills In Nigeria by EarlyCareer: 2:59pm On Apr 08, 2021

Na the 90% shock me. Na why i made the post. If you keep 90%, how you dey take survive with 10%?.

Haha, well, to God be the glory, some jobs pay quite well, and if you live below your means, it is very sufficient.

1 Like

Investment / Re: Treasury Bills In Nigeria by EarlyCareer: 2:43pm On Apr 08, 2021

Some will take forever

And close shop eventually... grin truthfully, many many start ups will die.
Investment / Re: Treasury Bills In Nigeria by EarlyCareer: 2:42pm On Apr 08, 2021

Sim used to be Konga not Jumia. Jumia was Tunde Kehinde. He was kicked out then started a couple of ventures. He’s now doing Lydia. An SME loan fintech grin

grin grin my bad. True. grin another fintech...
Investment / Re: Treasury Bills In Nigeria by EarlyCareer: 2:22pm On Apr 08, 2021

Sim is John Shagaya’s son. Smart chap but he has put his hands in tech ventures that have failed but he keeps coming back with new ones grin

Tayo is not an OBO. He has done well for himself and Paga is on its way but not there yet.

You are very right about them being as good as their future earnings. Many of them are not making money yet and are just burning through the cash of their investors.

True, Sim had big plans for Jumia though, its unfortunate. Tayo has managed Paga so well
Investment / Re: Treasury Bills In Nigeria by EarlyCareer: 2:20pm On Apr 08, 2021

For the profitablity, how long should we look at? I think from 5 years and above is okay.

Doubt if Jumia is profitable sha

Well, I guess there should be an idle timeline. Some take much longer though, Tesla took much longer. Even now, some people still question whether or not they are.

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