Hi All,

I applied for a visit visa on November 23rd and my biometric letter was sent on Dec 5th. My biometrics are still valid till 2026 and I volunteered to update my biometrics so that I could get a longer validity visa. I didn’t read it closely and I thought I had 90 days to submit it but the BIL actually expired on the 5th of January. On the IRCC portal my biometrics appears as completed on 24th November (the day after I applied). Can I still request for a new BIL via the web form or will I have to apply all over again?

+60% on Access since this post at the start of the year. I knew it was cheap but I never expected this performance in my wildest dreams. I would have been very content with this performance over the course of 2-3 years. As for the company itself, they are doing the damn thing. 186bn LTM profits, but N100bn or so in impairments just for Ghana so the performance is actually delicious. Me and Herbert Wigwe don enter one knicker. We pin here

erwinschro:


Both are good banks but I like access more at current prices for the following reasons:

Access bank is the largest bank in Nigeria by assets, customer base and deposits but on a relative valuation basis, Access is the cheapest T1 bank. They earned N4.85/share in the last 12 months and trading at N8.50 - just 1.7x earnings which is the cheapest of all the banks. Access along with UBA also trade at the lowest multiple to book value in the industry (0.3x). In other words, a bank with over N1trn shareholder's funds and almost N11 trillion in customer deposits that earned N175bn in last twelve months is trading at a market capitalization of less than N300bn.

Perhaps the market perceives more risk in Access and I can't pretend to be able to evaluate that accurately but I don't think they are that much less disciplined in lending than any other bank. What I think is more likely is that they are being punished for their relatively low dividend payout, which I think is unjustified. They have a lot of free cash and can probably double their dividend at any time they decide to slow down with the acquisitions. They are in a growth phase and surely can't keep swallowing other banks and financial institutions at this pace forever.

The icing on the cake for me was that Herbert Wigwe bought almost N1bn worth of shares in November at an average price of about N8. Many people don't give any weight to insider dealings because you can't know what drives their decisions. The way I see it; there are many reasons why an insider may sell shares that have nothing to do with underlying business value but there can only be one reason why they are buying.

essentialone:
If you have received payment of dividend from GSK, please indicate.

Last week or so

"“Tinubu, who we perceive as being the least market-friendly of the three main candidates, is currently in the driver’s seat, but it is still early days and the positive reaction in Nigerian credit could indicate that markets think Obi stands a fighting chance,” said Patrick Curran, a senior economist at Tellimer Ltd. “There is likely to be a positive macro policy shift at the margin no matter who wins the election.”

Sensationalist headline and isn't the gotcha moment some jagabandits think it is

Agbalowomeri:


On NSE, there are two metrics that can quickly reprice a stock. ACCESS is poor in both:

- Dividend yield
- ROE: what's the return on all the assets it has been acquiring?

I totally agree with you that those metrics have a large effect on short-term repricing and Access is not great in those metrics. Everyone has what they are looking for in the market and I am not looking for a quick repricing so I didn't write my response from that perspective.

Like I said, I think the market is punishing them for the dividend payout and to me it's unjustified.

Our market has a strong taste for dividends because our macro environment forces investors to demand more of their profits up-front. But what really matters from a value perspective is the *ability* to pay dividends (or otherwise return cash to shareholders) in the future. That ability comes from cash profits minus whatever amount you need to spend to maintain your competitive position and unit volume.

Out of 150bn cash profits, Access kept N120bn to finance acquisitions but it doesn't cost that much money to maintain their volume or competitive position. So projecting into the future it's a potential double whammy of expanding payouts on increasing profits. I believe that they can continue to expand that ability at satisfying rates for me, but everyone has to make that determination themselves

Abbasmh:
Hello

Happy New year House

Gurus in the house, please Between Accesscorp and GTCO which one is a better buy now

Both are good banks but I like access more at current prices for the following reasons:

Access bank is the largest bank in Nigeria by assets, customer base and deposits but on a relative valuation basis, Access is the cheapest T1 bank. They earned N4.85/share in the last 12 months and trading at N8.50 - just 1.7x earnings which is the cheapest of all the banks. Access along with UBA also trade at the lowest multiple to book value in the industry (0.3x). In other words, a bank with over N1trn shareholder's funds and almost N11 trillion in customer deposits that earned N175bn in last twelve months is trading at a market capitalization of less than N300bn.

Perhaps the market perceives more risk in Access and I can't pretend to be able to evaluate that accurately but I don't think they are that much less disciplined in lending than any other bank. What I think is more likely is that they are being punished for their relatively low dividend payout, which I think is unjustified. They have a lot of free cash and can probably double their dividend at any time they decide to slow down with the acquisitions. They are in a growth phase and surely can't keep swallowing other banks and financial institutions at this pace forever.

The icing on the cake for me was that Herbert Wigwe bought almost N1bn worth of shares in November at an average price of about N8. Many people don't give any weight to insider dealings because you can't know what drives their decisions. The way I see it; there are many reasons why an insider may sell shares that have nothing to do with underlying business value but there can only be one reason why they are buying.

essentialone:
Silently, the year is ending with another stock rallying mysteriously. And the company is Thomas Wyatt. YTD this company has gained about 150% in price. In the last 10 days alone, the company has gained 100% in price ��

Just when we thought we have seen the last of mysterious stocks for this year 2022, the market is experiencing yet another.

Recap

Previous mystery stocks of this year include:

McNichols
RT Briscoe
Meyer

And now, Thomas Wyatt

Is this a case of P&? Or is it our 13th month Allawee?

There was nothing mysterious about Meyer, at the end of 2021 it was trading below 50% of its liquidation value and at one point even below its net cash. Almost impossible to lose money when you buy at that price. These kinds of mispricings will come about relatively frequently in stocks as thinly traded as that. Most investors will choose to ignore such clear opportunities because of the low trading liquidity which for Meyer is about N2m monthly so building a position that will actually move the needle in your portfolio will take too long and require you to account for a ridiculous % of trading volume while somehow not moving the price too much.

For anyone investing sums of less than N1m you can probably compound at 30-50% per year trading these types of stocks, but very quickly you become too big for such trades to be meaningful so you move on to other opportunities, which is precisely why these mispricings will always exist for those with small sums

emmanuelewumi:


Referring to the debt/equity ratio of 5.4 for Julius Berger and a ROE of about 15%, without debt JB might have a ROE of about 5% which is poor


MTN
Nestle
CAP plc
Okomu
Total
United Capital 36%
Are some of the once I can remember

BUA Foods and PRESCO also above 40% I think

emmanuelewumi:



With a return on equity of about 113% and a dividend payout ratio of 86%, Nestle should have a sustainable growth of about 16% whereas the earnings are growing at about 20%.


You get the sustainable earning growth by subtracting 86% ie the dividend payout from 100%, which will give you 14%. Then you multiply by the return on equity of 113.

Nestle is appropriately priced at a PE around 16, but nothing bad in getting it cheaper

I quite like the sustainable growth method and I agree I think this definitely falls into the category of great company selling at a fair price

With current Book Value Per Share of N52.7 and 16% sustainable growth rate, after 10 years the book value per share should be N229 at the end of year 10. If nestle maintains their ROE of 113, then that will be N258 in y10 earnings. At the same PE ratio of 16 that is an expected price of N4,128. Dividends have been growing roughly with inflation so you will get at least N1000+ in dividends over 10 years

If you pay N980 then the implied 10 year return is (5128/980)^(1/10)-1 which is a rate of return of 17% and I probably understated the total dividends and Nestle's historical PE is more like 34x over the last 10 years.

yok:
CMRE is our stock of the day. A dividend paying stock in rock solid support zone. I can close my eyes, buy this stock and go for a nap(you should know, in this market we cannot go and sleep, we need to take profit at resistance).

What business is CMRE, it is a container transportation company, look at containers in Nigeria you will see the inscription on some of them, this is Costmare Shipping Ltd. Buy a stock like this and have peace of mind, at least you can relate with their business and company will not dispear after some few years !!!

This chart is showing a double bottom raise to power 2, this is like free trade, little risk, there is probability of price appreciation plus dividend.

For our subscribers, profit forecast for major Nigeria stocks will likely start going to their message boxes from next week, new subscriber can partake in the opportunity too.

Happy day to all.

There are a lot of good deals in shipping right now because the general outlook on shipping prices next year has caused the market to behave irrationally in pricing. It's interesting how technicals show something about fundamentals The price to ship a container completely crashed this year and every analyst is predicting even lower prices when the recession materializes. However, the outlook cannot be bleak enough to justify the valuations.

$ZIM is also a shipping company but domiciled in Israel. They generated $49 in owner's earnings per share in the last 12 months but it is selling for $17 per share. Before I go into all of the other reasons why this is fantastically mispriced, let's even just think about it from the perspective of the business owners:

You own half of $ZIM shipping company with 11 ships that made $5.9bn profit in the last 12 months and you and your partner each received a dividend of $1.6bn. Your company has $3.5bn in cash, another $9bn in assets and only $6bn liabilities. Now we are at the end of the year and your partner Mr. Market has heard that shipping prices will crash next year so he is offering you the other 50% of the company for $1bn. It sounds to good to be true, yet that is exactly what Mr. NYSE is doing.

yMcy56:

You don't need shareholder's account number to fill E-Dividend Activation Form again.
Only tick the Coys in the column.

Thank you it seems that they were trying to dribble me then

perfectgen:
Good afternoon good people, wishing you all seasons' greetings. What is the projections for Scoa and RT Briscoe stocks? I will do my due research but only need expositions from those with knowledge of the stocks.

Thanks

Since you picked these two companies I assume that you like or understand the economics of those businesses:

85 kobo is probably cheap for SCOA on a statistical basis, but it is an illiquid kobo stock so you won't be able to get many shares without affecting the price.

RT briscoe faces the same liquidity issue and they have also lost money every year since 2017 and they have N18 billion in short term borrowings against around N3bn current assets (N9bn total assets).

Just my view from a quick glance so make sure to do your research maybe they have something else going on

https://businessday.ng/companies/article/nigerias-sec-says-to-rebuild-e-dividend-platform/

These people have started again. I hope we won't have to start filling forms that we've done before. Still having issues finding some 'shareholder account numbers' for e-dividend mandate

apieceofpeace:
C

There is no email after this as far as I am aware. Put your passport number into the tracking page on ustraveldocs and it should say ready for collection. I received the email that it has been picked up 4pm on a Tuesday and I picked it up first thing the next morning. From walter carrington to muri okunlola cannot be more than 20 minutes journey, so if it isn't available for pick up today then certainly by tomorrow. Congrats

nenyecarino:
Hello Good evening
I have a b1/b2 visa and a F1 visa. I want to travel (pleasure), but since I can’t use the F1 visa as it is not yet 30 days to resumption date, Can I use the visiting visa at the Immigration place at the airport?
If I eventually use the B1/B2 visa and travel, Do I have to come back to nigeria and re enter USA with my F1 visa when it’s close to my resumption date?
Or since I would be going to a different state than the state the school is in, can I just use the student visa and book a local (state to state) flight to the school instead of coming back to Nigeria and re entering

Change of status is possible theoretically and is supposed to cost around $460 which I guess is cheaper than flying back to Nigeria. The issue is that nowadays processing times are 11-23 months so it is unlikely you can maintain B1/B2 status for that long, and you cannot under any circumstances enroll in classes while on a B1/B2 visa. Moving from one state to another in the US does not change your status and again you have to be EXTREMELY careful not to do anything school related while visiting because they will certainly check this at whatever point you try to change your status. The only realistic choice is to leave the US and re-enter on F1. Thankfully you don't have to come back to Nigeria to do this. You can just go to Canada or Mexico for a weekend and re-enter on f1. Mexico might be easier because you don't need a Mexican visa if you already have a US visa. The laws are nuanced so make sure you know them well so that you can be clear with border officials that you will not be violating the terms of either visas when applying for entry.

Cyingfreeman:


Wow!! My program started date is 22nd. My EA just got approved. But while trying to pick a date, account was frozen. However, people said that the earliest EA is 17th of August. So I hope to pick 17th of August once my account is unfrozen. Worse case scenario, 18th.

Putting into consideration my program start date on the 22nd and likely date of interview which maybe on the 18th, what are my chances? Is this a red flag?

Anyone with an idea could also give an input.

Thanks

I think this is a much better situation but because your interview is before the start date and you have permission to resume late so it shouldn't stop them from giving you a visa in theory. At least if I was in your position I would still carry on and not defer. I don't know what the actual timeline is to receive your passport but its supposed to be 3-5 business days. If you think you can collect your passport and *arrive* in the US by the 26th at the latest then by the grace of God you should be fine, although you might get tough questions at the port of entry

ciarasommy:

I asked because I read a transcript where someone was denied outrightly because she gave a response that the admission officer has granted her permission to arrive 1week late when the VO stated that the program has started already. However, thanks for the clarification.

I think you 100% can be denied for this. Overall, your start date on your I20 is what matters. Even if they give you the visa, you can be denied at the port of entry if you arrive after the start date on your I20. The school is able to give you permission to arrive 1 week late, and in most circumstances this should be fine at the port of entry and they understand the sort of backlogs we have in Nigeria. Anything after 1 week and the chances at the port of entry get dicey. So if your visa appointment is already 1 week after your start date and it takes another 3-5 days to get your passport then the best option is to defer. The consular officers also know this, and likely won't grant you a visa if you will be arriving at the port of entry 2 weeks after the start date. I was in the embassy this morning and it was mostly F1 and they made it a point to tell all the people they gave visas not to arrive after their program start date or they will be sent back to Nigeria

emmanuelewumi:



They can't borrow from pension fund. They can issue more bond offers, where pension funds can invest

Is that not still a form of lending? Debt is debt

HaHaHa Bello don give us wotowoto tire for Kogi state no wonder everyone is so Obidient

I am a Yoruba Muslim from Kogi state but I was born and grew up in Lagos.

I have a large and diverse family with a Christian Mother and Muslim dad who each have 10 siblings of their own. My direct family; siblings, parents, real aunties and uncles, and first cousins is well over 60 adults.

Every single one of us is seriously Obidient.

Not only are we voting we are actively campaigning not just in our hometown in Kogi but also our various places of residence all over the country.

casualobserver:


BTW please watch peter Obi on Channels tv today with an open mind despite the fact that you are avid fans. peter Obi said he "wants to move Nigeria from consumption to production and exports". Seun finally asked him how? as if Seun read my posts.....please watch... the man just waffled and waffled but he never answered the question just like the guy earlier I was in discussion with , he just kept reeling more diversionary stats but failed to answer the question and you know Seun Okunbaloye is an intellectual lightweight so he got away with it. Please watch the interview and you will see what i have been saying. Obi bamboozles the uninformed with stats the real question is how?...the man evaded and failed to answer and instead quoted more stats but failed to answer the question....how?

I am convinced Obi is a trader who made money as a trader largely because he had exclusive license for certain key products and later went to a few business schools got bamboozled by the exposure and stats that any international 1st degree economics student knows and is using that to bamboozle ignorant Nigerians sounding like some saviour but he has no solution. He is not a man who will steal public funds but other than that e he has nothing to offer.


watch the video:
https://www.youtube.com/watch?v=5BkPlFndswM

Seun asked him how around the 20min watch and see what i am saying about Obi. after trying to sound intelligent by saying we only export $30b, Seun asks him how will he improve exports, the man says he will invest in health and education to improve exports?? Yepa!! I hope you are all seeing, no mention of power, infrastructure, roads, bureaucracy bottle necks ans efficiencies etc etc etc and then he stats to reel more irrelevant stats nobosy asked him that have nothing to do with the question he was asked.


you also hear him say earlier he left $500m. you state lacks infrastructure and you are leaving $500m for who? you didnt see infrastructure projects to invest in? dont confuse an stingy man with a prudent man. Obi is stingy not prudent. There is laos a part where he pretends he didnt know what Wike said about his integrity and then later he is the one even telling Seun about Wike's interview!!

I have told you people this man is a charlatan!!

People like you don't vote lmao. You are still waiting for Tafawa Balewa or Awo or Sardauna to save you. I am going to build a monstrosity of a structure for LP in my wards. Take this as my final response, congratulations on wasting few minutes of my life

casualobserver:


Thank you at least you are able to articulate something unlike the other brain dead supporter. Like I have said, I am not a youth, we have heard this over and over again, I am old enough to have heard all this since 1979, there is nothing new under the sun....they always fail, what i want to know is not what you want to do but how and how do you intend to make sure you dont fail. The how is the critical thing in all of this. All these things sound good on paper but there is a reason they never happen. When babangida devalued the naira in 1985, it was to spur an export led economy, the export boom never happened, factories closed down and the naira went down with it. Because to export you have to solve complex issues of electricity, govt bureaucracy, transport, security, port efficiencies corruption, forex to import raw materials and machinery that are even worse now and more entrenched than they were in the babangida era. So while i agree with you that in depth manifestos will truly start to circulate after primaries, the truth is anyone who hasnt got 1) an ambitious say $500b 10 year plan for key sectors who can say this is how many Km or roads or track i will deliver, this is my GDp target, this is my plan for security, this is how many police I will employ, etc etc and articulate how he will finance it. and 2) a clear plan to acheive certain revenue to GDP targets and 3) a plan of true fiscal restructuring, is going to fail....i dont need a crystal ball!!!


Like i said there is nothing new in what he is saying, People smarter than him, seasoned economists, industrialists and technocrats etc abound they are just not in the public space, there is nothing he is saying that is new, maybe to a generation used to mediocrity. But there were brilliant Nigerians who came up with our 1st,2nd and 3rd national development plans for example. What Nigeria needs is a plan and an ambitious one anything else is just noise and unfortunately he hasnt got a past record either in business or in government to suggest he can deliver, so until he can show be his plan, his targets, the metric for measuring success, timelines, potential obstacles and how he intends to overcome and most inportantly funding, this man has been around too long to be fooled.


it takes a lot to export, same aas you cant have agric or toutism without security and transport and you cant spend 4 years to build a 100km road or rail and expect agric or tourism or exports to take off, it aint gonna happen. The world is not going to wait for your late export orders because your supplies are late because of Nigerian factor, your foreign customers will find alternatives.

Finally you cannot run the country if you dont control parliament, so even if he wins under labour, how many labour party senators and reps does he have on his side? he wont get his way just like his period in Anambra with a PDp house, he will be lucky if he isnt impeached. So though i wait for his manifesto AFAIAC even if he has a convincing manifesto, he will fail because you need votes to approve your plans and budget.

In fact the more I think about it, even without seeing his manifesto the more I know he will be a disappointment and it is probably in his interest not to win and be seen as a hero by his supporters. Anyone who was around in 1983 knows what happened when Buhari was in power and I said it in 2015 that yes Buhari is a good anti corruption leader but he is clueless on the economy. Moreover, the circumstances have changed, it is hard to fight corruption as a civilian especially when you rode to power on the backs of corruption...I have been proven right!!! In the end he neither fought corruption, though it is better nor saved the economy. A similar fate awaits obi in the event that he wins, he will be held hostage by a corrupt parliarment who will either frustrate his plans and compromise him with sleaze because he shouldnt kid himself that he has the stature to end sleaze in Abuja in which case he him becomes compromised or he loses the reputation for cutting waste. Nigerian politics has a habit of compromising "clean" people, thats why the truly clean stay away and people with 1 eye start parading themselves as messiahs. If he wins irrespective of his plan, He will either get compromised, fail or be impeached!!

You are talking about a man who was governor of Anambra for 8 years under APGA when it was a PDP parliament. He did it successfully the. And he will do it now.

We do not need lofty 30 year plans. Our situation is dire. We spend almost 100% of revenues servicing debts and interest rates are rising globally. We need fiscal responsibility and we need to tighten our belts. Nigerians will have to suffer to fix this issue. Nigerians will not accept that suffering from criminals who are so obviously sharing the milk and honey of Nigeria in front of our eyes. I believe he is someone that can sell that message, he can create the political will to challenge and actually take down some of the vested interests in the country. Or we can take a chance with 76 year old Atiku or Buhari’s handpicked successor. Your vote, your choice

casualobserver:


Like I said you people have been dumbed down and sorry to say not very bright. What exactly are the brilliant ideas, please tell me! You have been so dumbed down you dont know when someone is bullshitting you. Has he given you an annual gdp growth rate target? has he told you where he intends the GDP to be by end of his 1st term? Has he told you which sectors will drive that GDP growth? has he told you how many jobs he intends to create in which sectors, Has he told you HOW he is going to create those jobs? has he told you how [/b]he is going to stabilise the Naira, has he told you [b]how he intends to fight security, has he told you HOW he intends to provide electricity? Has he told you HOW he is going to get the financing to build roads?, Has he told you HOW MANY kilometres of roads he intends to construct by end of his 1st term? has he told you how many Km of rail he intends to construct in his 1st term? Has he given you any targets for his promises? if you examine all his rhetoric all peter Obi does is rehash Business school BS that he has no track record of implementing in his private or public life. When he was in Anambra what we can even say look this is what he did? You saved money so that Obioano could steal, is that something to be proud of, would he not have been better to spend the money he saved and even borrow more to build roads and infrastructure so that whoever is coming after him will have to raise IGR if he wants to steal because debt payments for existing infrastructure that people are enjoying means there is no money to steal unless you raise IGR?. All he says is "production" "production" but even inhis private life he is not a producer of anything, he is a trader!!!!! buying and selling!!! has he told you what his plans are to get all the much touted mineral resources of Nigeria out of the ground? has he told you how many thousand hectares of agricultural land he intends to bring on board during his administration and which will be the priority crops, has he told you which products he has identified that Nigeria can export ot get additional forex? I bet you the answers to all of these are a resounding NO!!

You people never learm people with vision and real ideas give definite targets and tell you how they intend to go about it, if they fail to reach their target, at least they will get somewhere because they have a target they can be benchmarked against. mediocrity just says i will do i will do, no targets, no details how they intend to do...this is why we have a leadership like Buhari.


The reason why we get mediocre leaders is also down to the electorate, they dont ask the right questions, we are not very bright. next time a man says I will do, ask him how, when, with which money...then you will see who is truly a messiah or a fraud!!!!

In the country of the blind a one eyed man is King, peter Obi can only sound brilliant to someone who is either unintelligent or ignorant. Intelligent people who understand how business, governance and great countries and visionaries work and think can see through peter Obi as a fraud!!!!

Nit like I said we are talking of a citenzenry that think that a billionaires son of 30 years not being able to buy his own car is a thing to be proud of or saving money for saving sake is great leadership, or carrying uour own bag means you are humble. There is a difference between humble and stingy. Obi is clearly a stingy man, everything about him says stingy...understand the difference between stingy and humble as well as stingy and good leader.

You are setting the HIGHEST benchmark for this man when we are governed by literal, actual, criminals?

From my knowledge of politics, full manifesto's come AFTER candidates have secured the tickets which Peter Obi only did a matter of HOURS ago. Please do not try to use these epistle's to bully people. You are well informed but you clearly don't know all and you have not watched all of Peter Obi's speeches. He has said over and over again how we can take the Bangladeshi and vietnamese models of exporting clothes! We have the skillset and women are always the biggest beneficiaries! Both of those countries earn more exporting clothes than we do oil!

megawealth01:
Yes ooooo... I've been busy with cryptocurrencies but I'm returning to nse small small

you don collect wotowoto tire for there abi �

AsampeteNwaanyi:
[s][/s]
Yoruba Christians will never support Tinubu.

Osinbajo for Yorubas or nothing

You want nigeria to continue the way it is?

RabbiDoracle:


In 2016 when Fed started to raise rates and CBN also raised rates in response, all stocks in the banking sector rose. Using GTB as example, see the chart below.

Check the monthly charts of other banks as at that period and similar trends will be seen.

erwinschro:
The last time CBN was this hawkish was 2016. MPC meeting march 2016 they raised rates 100 bps from 11 to 12%. They raised them again 200bps in july 2016 from 12 to 14% which remained unchanged till 2019. Correlation is not causation, but I suggest you investigate what happened to FUGAZ from march 2016

You are there

onegentleguy:


Pls kindly answer these questions;

• What was the yield on risk-free securities (fixed income mkt) then, and how does it compare to that of recent times... and the passthrough impact looking at the global financial mkt?

• To what degree does surrounding risk take away from potential growth in the real sector comparing both period. (2016 and 2022)?

• How did an investors real return from playing different asset class fair within both period?

Then come back and let's discuss more bro!

And oh! maybe the fact that a coy like UCAP and ZENITH paid about 30k and N2.02 then, when alternative investment yields were higher but paid N1.5 and N3.10 now that FI yields are much lower might help with given a clue.

The mkt will rise beyond this policy. Really nothing to fret about bro.
As I said before; any pullback in the next couple of days should only be seeing as an opportunity to strategically align with select KEY fundamentally healthy coys.

Regards

Not fretting, I am implying that this rise in rates may be exactly the catalyst needed to move the stubborn bank stocks

The last time CBN was this hawkish was 2016. MPC meeting march 2016 they raised rates 100 bps from 11 to 12%. They raised them again 200bps in july 2016 from 12 to 14% which remained unchanged till 2019. Correlation is not causation, but I suggest you investigate what happened to FUGAZ from march 2016

ololufemi:


Gentle reminder o! I hope you are still waiting for it at NGR4.00

Happy Sunday everyone.

hmm are you sure this #4 is not coming to pass

onegentleguy:


Hope u are making the best of the present opportunity to align?

It is well!

I'm enjoying it

seankafor:
[b]did you know that during covid, fg printed 50 billion naira and dashed to all states? [/b]Obaseki was the one that said it from his own mouth

The USA printed trillions of USA dollars to savage the covid situation..

See let me tell you, this life is built on fraud and manipulations already..
It's just for you to choose the lesser and most endurable risk based on your own assertion..

Cash is inflatory, digital is inflatory too

What happened to Luna printing coins can be likened to what happened to Zimbabwe dollar inflation where a bread is bought by a wheel barrow full of cash..

Look at Venezuela, their cash is useless because of inflation and printing of too much cash..

No where is safe, just choose your fate and go with it..

LOL did you know in the last 7 years Meffy has helped FG print 18 Trillion Naira? Covid was nothing . The difference is if fiat currencies hyperinflate (aka go to 0) it is a total wealth destruction event almost no one can escape it. There will almost always be a new internal order in your county and some form of wealth re-distribution. If you lose all your money in crypto and the regular economy continues as is you are in big trouble. It is all bad, but if Naira or USD goes down at least I know it is the whole country that is also going down

ThisisIkemefuna:


Well you're wrong, USDC is also not audited so there's no way to verify the 1:1 claim.

It is only ATTESTED not audited. It is even stated in their site. Usdt on the other side has been tested for several years and withstood several heavy fud. How many years has usdc withstood? Currently people can simply claim usdt on tether website on a 1:1 ratio to a dollar.

Ok this is semantics. It is a fair attestion of value by a top international accounting firm. It is not just cash, but the firm does not think that they have misrepresented the value of their assets. Look, I have nothing to gain here and I am not trying to present myself as an expert on crypto - in fact I have never invested in cryptocurrency. What I do not like is securities fraud, and my countrymen losing their life savings to foreign ponzi schemers. Everything I have said anyone can look up for themselves, infact I ENCOURAGE you to.