₦airaland Forum

chimex38:
I dunno about that them sha.
But they've been investing in NGX before now. So...🤷

I think they have their ways. Through ETF’s or stuff like that.

These NUPENG guys are tiring. They are just after their 4 Billion naira monthly fee. Nothing else.

CSCS and 🇳🇬 stock market announced 🇳🇬 capital market will move to a two-day securities settlement cycle effective from November 28th.

mikeapollo:
Do you know how many people in the villages/hamlets that do not have NIN/BVN or TIN?
You think everybody lives in the cities?
The truth is there will be more activity shifted to the informal sector outside the formal banking system.

If you don’t have even NIN or BVN as means of identification, why would you want to do banking? Through the NIN and BVN we formalise the economy more just like India has been doing within the last decade.

Olaide1295:
Omo na wah for you o. The govt has already said no need for TIN if you have NIN.
Your NIN also serves as your Tax ID in 🇳🇬. This takes effect from January.
Your existing TIN remains valid. If you already have one, you do not need to register again. For those without a TIN, you will need your NIN (individuals)

Your NIN is not a direct TIN but you can easily generate your TIN at once using your NIN.

“Wema Bank has now surpassed the Central Bank of Nigeria’s (CBN) capital requirement for commercial banks, following the successful conclusion of its N150 billion rights issue. 🎉

With this milestone, the bank is now well ahead of the March 2026 recapitalization deadline set by CBN.

Wema Bank also disclosed that its total qualifying capital has risen to N214.7 billion, comfortably above the N200 billion regulatory threshold”.

mikeapollo:
Please, lets hope and pray that Nigeria doesn't experience extremely violent riots. There should be no room for complacency
A country experiencing endless ethnic killings, kidnappings, banditry, terrorist acts etc. for almost 20 years is a country in delicate, dangerous times.
Boko Haram has not been defeated for more than 15 years now.

True, we pray there should be no riots. But to your second point, don’t you think this is evidence to Nigeria’s strength and ability to keep itself together despite fighting many internal battles all at once for years? How many countries can handle that and not be down by now? (think Sudan conflict).

Nigeria has dealt with Niger Delta Avengers, IPOB agitation, Fulani herdsmen, Bandits, Middle belt crisis, ISWAP, BokoHaram, Lukarawa from the Sahel in Kebbi, etc stretching the military thin across the nation but still keeping it’s
shit together in Abuja.

Streetinvestor2:
.
How .Let me get ur angle

We had a much smaller market and not so much foreign portfolio investors that could easily pull out from holding naira bonds. Civil wars in Africa at the time were more or less the norm than the exception. The world is now more of a global village than it was in 1967.
In light of the above, a civil war then would have hardly had any effect on the naira than a crisis in a small country like Gambia would depreciate their currency today.

Streetinvestor2:
Was naira stable during the civil war or not.

A very different world than now.

Streetinvestor2:
Why won't it be when the naira has become shit money under this government. No be only attractive na romantic

In 2022, bank cards for dollars were not working and popular apps like transfer wise already stopped dealing with Nigerian naira.

Today, the reverse is the case and it seems firms find it more flexible to trade with naira now just like they would find the South African rand for instance. That’s what I mean by attractive. I’m not saying the 1500 value is attractive or where it should stop at rather I believe the naira should strengthen beyond that in the not so distant future.

The naira seem to be becoming more and more attractive and convertible these days

BankyGee:
Galatasaray 😏

Female football, I don't support anybody, but I love watching Madrid because of Caicedo and Barcelona because of Paralluelo

Galatasaray? Osimehn factor or from time?

megawealth01:
NAWAOH

Fintechs are adding too much premium though. The Cryptos, Abokis, CBN and Banks are aligned and have been aligned since May for the most part.

Abuja at night (Wuse 2)


https://www.youtube.com/watch?v=UiJVMigoaGY?si=gD10KX2QtNP4Hg3d

megawealth01:

One can always find several rates here:

https://monierate.com/

Mpeace:
I don't know where you pple get these figures. I just sold a few units following this post of yours. They bought at 1,530/1$.

This is the crypto market and IMTO rate which is different from Aboki and CBN/Bank rates for now.

By Monday, the rates would align. Either the crypto rate depreciates back to the CBN rate of 1520 and aboki rate of 1530 OR the CBN and Aboki rates both appreciate to catch up with the crypto rates.

There was holiday on Friday but Cryptos are traded 24/7. Aboki’s to a large extent gets FX from Banks and then add their premiums, so their rates would always go in the direction of the official/CBN rates.

So by Monday, everything would be clear.

awesomeJ:
Good time to hold naira assets o.
And their $21bn liquidity injection hasn't even come.

I considered reactivating my dollar fund account last month, but I was like what's the point really?

MMF will give me 18%
Dollar fund will give 6% and if naira strengthens to 1350, I would have lost 10%


Every strategy needs a good timing.

I don't think now's a good time to be converting naira.

I expected there would be some pressure on the naira by this time due to people stocking up for Christmas and importing ahead. There is also the factor of low crude oil prices at $66 on average in August and spilling into September so far, yet the naira did not weaken.

If it doesn’t weaken (to some extent) between now and November, then December would be very promising because the naira normally does well in December but struggles between June and October (most especially between June and September).

Omo naira (parallel market) dey vex this morning oo

Exclusive:

Dangote is about to drop another banger on the stock market! But this time, it's not cement or sugar. It's fertilizer. And the valuation talk is making sense for those who understand.
Let's break down the potential listing of Dangote Fertiliser.

The Main Gist: Analysts are guessing that Dangote Fertilizer could be worth between $2.5 billion and $3.5 billion when it lists on the Nigerian Exchange (NGX). This isn't just a number; it's a huge deal for Nigeria's stock market.

The "Why" is important: The initial construction cost of the plant was about $2.5 billion alone. Dangote himself has thrown out some serious numbers, talking about a potential $20 million daily revenue. A huge cashflow!

The Dollar Factor: The Naira can be volatile, so Dangote is making a smart move. He said the business is "dollarized", meaning investors can expect returns in dollars. This will surely attract foreign investors who are always concerned about value & volatility of the Naira.

Expansion on the Horizon: Dangote isn't stopping at the current plant. There are plans to triple production capacity from 3 million to 9 million metric tons. This would make it the largest fertilizer plant in the world. The ambition shows a long-term vision, not a quick cash grab.

A Big Win for Nigeria: The plant has already made Nigeria a net exporter of urea, reducing our dependence on foreign fertilizers and helping other African countries. This isn't just about money; it's about strategic importance and food security for the continent.

What this means: A listing like this would be massive for the NGX. It could add billions to the market and attract a lot of new eyes and money to the Nigerian stock market. The future is looking green for investors who get in on this.

(Source: NGN Markets)

Fidson-Ohara! A partnership set to shake up Africa's healthcare sector!

Nigerian pharma giant Fidson Healthcare just signed a major deal with Japan's Ohara Pharmaceutical Co. This is a game changer for medicine on the continent.

In the MOU, Ohara will provide strategic support, expertise, and help Fidson raise capital. This will supercharge Fidson's ability to produce specialized, high-quality drugs right here in Nigeria, ensuring self-sufficiency and affordable access to life-saving drugs for millions.

https://punchng.com/fidson-japanese-firm-partner-on-drug-production/

megawealth01:
Head of JAGABANomics off to Europe. Thanks Sir for what you did with UNITY BANK 💕

Probably going to treat that his leg again.

Streetinvestor2:
It is not sustainable because u said so.i don't get it.We will still have green tomorrow

Isn’t tomorrow public holiday?

Khallicopyro:
Which part of Lagos are you talking about? Even Iba New Site, Okwafor, Ikorodu, Ikotun, Igando and others are far more developed than your Asaba. Dey play

Lol. Have you been to Asaba? These places you mentioned are not as developed as Asaba but definitely Ikeja, Lekki, VI, Ikoyi are more developed than Asaba.

orriyomi33:
Good evening all.

What is wrong with the Meritrade app?
For the past few days, it's difficult accessing my account.

It keeps displaying "unexpected data format"

Anyone facing similar challenge? How did you resolve it!

I faced same challenge despite re-uploading then. I just ignored them after a while but I didn’t delete the app though. Just try the PNG format in a small size and then see if it works.

Kobojunkie:
Abeg waka pass me with your brain damage! 😩😩😩

Typical. When they are empty and have no logical argument, they abuse.

Dangote exports first gasoline to U.S.

Kobojunkie:
Storyland! Information channels even after your government had praised itself for achieving unification back in 2024? Una go continue spinning tales tire. 🥱😩🥱😩

So you mean immediately you acheive unification you also immediately win trust and start getting more remittances via official channels? No time lag? Is that how it works?

Kobojunkie:
Storyland! 🥱🥱🥱🥱🥱

You can do your research and prove me wrong. I would gladly learn.

Tats:
You hit the nail on the head. The real indication of growth is that this money should be reducing. How on earth do they think or analyse data?

You are funny. But when we were growing at 6% under Jonathan, remittances were also very high and not dwindling.

Dbegining:
Thank you for trying to educate me.

But, in my humble and very little knowledge, let me make something clear to you.

Nigeria has had a Balance of Payment (BOP) deficit since the 1990's

No nation on Earth has ever used income from diaspora (Current Account) to flip the position of it's BOP. It has never happened and it won't happen with Nigeria. So, the talk of inflation will come down and rhe value of Naira will improve won't happen based on increase in remittance from diaspora.

You know why? Cause only a producing economy can bring about that. A industrialized country - a category which Nigeria currently doesn't fall into.

You said it's a long walk. I disagree. It's an impossible walk.

“In 2024, Nigeria recorded a Balance of Payments (BoP) surplus, marking a significant shift from the previous years of deficits”.

Kobojunkie:
Only $600 million a month at this point in time? Yikes! Nigerians in diaspora no dey too send money home again abi wetin? At this rate, the county will fall far short of previous high of about $17 billion a year from the diaspora.😐😐😐😐

I think this is the highest that has ever passed through Banks and official channels. Most of the previous 17 Billion USD didn’t pass through official channels but were concentrated in the black market and largely unaccounted for. I don’t think we ever got over $400 million in a single month prior to this.