₦airaland Forum

ihedioramma:
The Naira has continued to
appreciate against the dollar at
the parallel market, the News
Agency of Nigeria (NAN) reports. The Nigerian currency on
Tuesday afternoon traded at
N420 (buying rate) and N430
(selling rate), while the Pound
Sterling and the Euro closed at
N530 and N450 respectively. Trading on the floor of the Bureau
De Change (BDC) showed that
the Naira closed at N400 to a
dollar, while the Pound Sterling
and the Euro traded at N545 and
N480 respectively. The Naira remained stable at the
interbank market, exchanging at
N307.50 to a dollar. Traders at the market said that
they were happy with the
performance of the Naira at the
market, adding that it would lead
to the fall in the prices of goods
and services nationwide. Meanwhile, Mr Emefiele Godwin,
Governor of the Central Bank of
Nigeria (CBN), said that the bank
was optimistic to see the further
convergence of the official and
parallel market rates. Emefiele said this, while fielding
questions from newsmen .

Let those holding and Mopping the dollars continue...

I have been buying $50 each time Naira appreciates and so far am in a loss position as i started to mop when Naira appreciated to N480....but it is well!

Pan-African Economy Growing Steadily in March















Africa: Nigeria grows out of recession as South Africa registers modest improvements. #SMI http://www.worldeconomics.com/SMI/Africa-SalesManagersIndex.efp …


Market Growth Index increased above 50 after five months in contraction territory
Nigeria grows out of recession as South Africa registers modest improvements
Price Inflation picks up pace across Africa

The World Economics Headline Sales Managers’ Index (SMI) for Africa – a composite indicator providing the most up-to-date monthly assessment of economic activity in the region – improved by 1.6 index points to 51.3 in March. The Pan-African Market Growth Index, which represents overall economic growth, has ticked up above the 50.0 ‘no change’ level which separates growth from contraction for the first time in five consecutive months in March. This level, indicates that the Pan-African economy is starting to grow after a period of shallow contraction. Nigeria is leading the way after a solid month of gains as South Africa saw small improvements also. The Eastern economy of Kenya, which had a strong economy during 2016, has experienced five consecutive months of slowdown and is now starting to post very low levels of growth. Overall, business conditions are set to remain challenging across the continent with low sales growth and higher price inflation expected.

unite4real:
Bros, Feb2020 FGN Bond coupon payment is 15.54%, locked down till 2020.

Coupons are paid in February and August every year since the year 2015.


N8 million naira bond gives me a total of N1,243,200 as annual interest. Interest is paid twice ie February coupon is N621,600. August Coupon is N621,600.

My house rent is 600K and its paid in September annually. Child skool fees for the year is not over 300K.

The difference goes back into Treasury Bills with other incomes.

By February 2020, my N8 million will be credited back to me with the last coupon payment of N621,600. (Bullet payment)

note that the N8 million naira was an aggregate of different TBills i have bought over the years which i locked down for a long term bond.

This is one of more.

Excellent move...

exactly how to play the Bond Investments..very good for some targeted expenses..while allowing you to use your present operational cashflow for some other investments..

Been using my Bond investments coupons for the past 3 years for sch fees settlements

http://www.nse.com.ng/Financial_NewsDocs/16807_OKOMU_-_BOARD_RESOLUTION_CORPORATE_ACTIONS_MARCH_2017.pdf

So..how much was declared by the Board?

manlikegb:
Mr @feelamong, thanks for usual insight. Here's my concern, my investment house quoted me a charge of 0.5% and I don't know if that is the norm. I contacted them and told them I'd like to bid for 364days at 18.35% but I was told that I have two options for my rate(Gross or Net). That is, Gross would mean their own 0.5% charge included in my rate, if successful, I would get 17.85% OR Net would me they would add their own 0.5% charge to my 18.35% to make it 18.85%(which ofcourse have no chance of success at the auction with inflation rate dropping.

At the end of the day, I had no choice than to go with their own rate but I told the account officer I want nothing short of 18% atleast. Lo and behold, he called me today to tell me I got 17.8% blah blah inflation blah blah. I somehow feel hard done, and thought to share my experience with our gurus in the house and hear what other investors have to say on this as well.

How does other investment houses treat you investors with them in terms of rate and all. And specifically, how does Fidelity securities treat you my oga @feelamong.

Thanks and God bless.

Fidelity Securities told me they are ready to deal at 17% for 364 days and 16% for 182days and 13.3% for 91 days secondary market rates

1wolex85:
My tbills just matured today so I couldn't meet up with yesterday's bid. I just spoke with a rep of AXA mansard investment, they are offering me 15.88% for 91 days and 17.87% for 182 days. I had to tell her to repeat it. I guess they have a lot locked down in one year tbills at 18 point something, selling off at lesser rates. Good deal. Think I am going with them.

Do well to ask her if its YIELD or the DISCOUNT RATE that are the rates quoted?

These people dey learn new tricks daily sha!!

ganasy:
Pls how do i bid for the secondary market?

talk to your bankers or Investment House...

Fidelity Securities told me they are ready to deal at 17% for 364 days and 16% for 182days and 13.3% for 91 days

Treasury Bills Stop rates for 15th March 2017

91 days ----13.6%

182 days -----17.2%

364 days-------18.558%



How many people got rates close to this from their bankers

GetPosted:
Lips-sealed bro
Can I please have a date for the next bidding

22nd of March 2017