₦airaland Forum

freeman67:
Then you will have to complain to the bank about it. It is not normal.

Alright. I will, thanks.

odimbannamdi:
Savings sir.

No worries, bro. Ask as many as you want. A friend also did a transaction same yesterday, and he was charged 390.

See screenshot attached.

Wow! I am shocked. I really need to have a long discussion with GTBank. Couldn’t even connect them to the Apple store to subscribe for Apple music. Is the card a platinum card? When did you collect it? So it’s just a mastercard?

freeman67:
Maybe you got a verve or visa card. Though I am yet to see GT VISA and VERVE card sha but if it is their MASTERCARD you can use it across board.

Bros! I can’t use it o. *Tears*

E no dey work!

odimbannamdi:
I didnt buy dollar per se, i bought something from an online store.

But try funding you Naija Paypal account and it should go

I know you didn’t buy dollar.

Is the account a savings? Is the card MasterCard?

Please pardon all these questions. Will also try the paypal option.

Tobex4realTobex234:
Good to know but I think this one is too stretched. You start at what age and cash out when?

The number bro. 1 million!

So what if we did that for 2 million for 38 years? That is 74 million.

4 million for 19 years is 24 million.


Now let me do something different. What of if I added 10K every month to the 2 million for 38 years?
That number changes to 118 million.

What about the 4 million? If I added 10K every month for 19 years? That number becomes 30 million.


You see what is happening here? When I halved the years and doubled the initial capital, it keeps showing that number of years Investing is far more important than the amount of money you start with.

The reason I used 1 million for 76 years was because Warren Buffet had been investing for 76 years. I used that to show that it was more his continuous investing and compounding over longer years than anything else that made him what he is today.

This also serves as a lesson to those who think 1K is small money. Just start! Start now! Trust me. Let that thing compound! If you invest in yourself, your 10K salary today will be 1 million one day and with it your discipline of investing. Please just start. Make it be in you. Time spent investing is more important than the initial money.

odimbannamdi:
Dollar hoarders and speculators, make una sell una dollars now ooo...i just did an online transaction and Gtbank charged me 391.2naira/dollar

How are you using your GT bank naira card to make FX purchases? I can’t use mine no matter what I do.

Theconglomerate:
This is good and brilliant I must say,kudos!!!

Glad to see you like this man.

Makes me happy.

ojesymsym:
Fellow investors, I just played around with some calculations and I was shocked by the simplicity and result.

Assuming I am a civil servant and decide to commit to save 10k (ten thousand naira only) every month, at the end of the year I will have 120k (one twenty thousand naira) only. Assuming I decide to invest that money on a 10% investment per annum without stopping the 10k per month savings, that at the 35th year, around the time I am retiring I will be worth around 30 million?

With that kind of money, what is your business whether government or pension funds paid your gratuity or not. Just 10k a month o, not 20k not 100k not 1 million, just 10k, it is just crazy.

See attached sheet for details

I find the values difficult to believe, can someone else also do the calculation and confirm I did not make a mistake.

I also posted here that if you put 1 million naira for 76 years at 10% to compound it will be 1.4 billion naira at the end of that 76 years.

Don’t mind all those who keep making jest of Fixed income yields. Just do what you understand and is best for you and leave the rest.

emmanuelewumi:
That is another trick used by Ikeja Electricity Distribution to rip off their customers.

It happened to me about 3 years ago, when we got a new manager for my area. They all have targets, they disconnected my power supply on a Friday even though I am on prepaid. When I went to their office on Saturday morning, I found out that this was done to about 20 of us. They claimed we by passed and also brought an accumulated bill of 450k to me. How can a pre paid meter have the old bill.

I sent a mail to Nigeria Electricity Regulation Council Abuja, wrote the CEO of Ikeja Electricity and the top management, my power supply was restored within 48 hours, NERC forwarded a copy of query they sent to IKEDC to me. The lady ie new manager was transferred from Ajao Estate to some where at Ikorodu...


IKEDC marketers and manager are not happy with people using pre paid meters and are trying to frustrate them

Are you somewhere around Oshodi-Isolo LGA sir?

MrMcJay:
This is very rampant in those areas. Even some of the real estate companies in Ibeju-Lekki axis who bought land falling under Lekki Coastal and Epe Lagoon are facing this problem too. Buy land for 1.5M, 2 years later they are asking you to ratify with 2.5M. It's rubbish.

But I believe proper due diligence before purchase can prevent all these.

Hello sir and other gurus in the house, What do you think of Mortgages?

megawealth01:
FUD

Hahahahaha

Josh121:
You listen to this man , I laugh

Hahahhahaha

PETERiCHY:
Hope you have taking your profit on Zenithbk because it's heading back to N11. that's a whooping N6 discount.

SAVE THIS POST.

BARGAIN HUNTERS TAKE NOTE!

Looool! Me I don’t want to get into any argument.

But If it goes to said price, I will buy more, but for me to currently sell? I am not in that business. I am a dividend man. That is all there is to it. Continuous cash flow is very important to me and even at this price, Zenith is still a steal! Lol!

RabbiDoracle:
You sef no know.

Chai

I knew there was a reduction. Never bothered checking the numbers because BP at a young age no good. Unfortunately, I might have assumed the worst and taking a pessimistic outlook which showed in my immediately agreeing to what the other guy said.

I was wrong, and with the new numbers and link to the post I think I am better off than before.

DrAwo:
Just for the record, production cuts aren't this deep.

"As a result of the output cut, Nigeria will now be producing 1.412 million barrels per day, 1.495 million barrels per day, and 1.579 million barrels per day respectively for the corresponding periods in the agreement; as against the 1.829 million barrels per day of dry crude oil that was the reference production in October 2018."
https://nairametrics.com/2020/04/10/opec-deal-nigeria-to-cut-oil-output-by-22-to-1-4mbpd/

Interesting, thanks for the numbers.

There might be hope still.

Mcy56:
Hope you're good sir.
Any message for us with the way market is trading in range these few days - with banking stocks taking a back seat for others to shine small?

I am cool dear. E don tey small.

As for the message. Well, some people missed the bus. Sorry about that. Do not allow the persistence of continuous talk about any asset make you buy based on FOMO. As a dividend hunter I am quite patient. Always fundamentally sound stock, yes! Some bad stocks will move up, please do not FOMO!

And for the newbies here, some people would like to tell you Dividend hunting is stupid, it is this or that.
People will keep persistently mentioning particular stocks day and night, with wonderful dreams about it.
People will make recommendations.

All I will say is learn from all of the above. Know why “you” are buying anything, and if for any reason something you bought goes down in price and the reasons you bought it in the first place are still there, you should be happy to buy more at lower prices. Cc Zenith? I happily bought more down to the gates and rejoiced in ascension.

Mcy56:
Lol.
Abeg take am easy, no need going spiritual or dwelling on the past.

Madame the Madame

zimams:
Not exactly....
Nigeria has taken a production cut like other OPEC nations to bring about this $40. Based on the production cut we are down to less than 300 million barrels per day as against 1.1Billion per day before this wahala started. So Nigeria is making far less revenue than before.

Excercise caution.....

Best thing is to focus on fundamentally sound stock only. So you can sleep well at night. Economic forcasts into Q4 2020 suggests that we may be headed into a recession.

The fact that people are looking at the price of crude oil without the volume that will be produced says a lot about many. Lol!

You have said it all though.

rmx:
You ain’t see nothing yet . Prices can only get further depressed as the full effects of the economy downturn continue to manifest . People should wait for later in the year , Q3/Q4 as people without reserves and that over extended /over leveraged themselves try to bail out of properties for cash

My architect was hustling me early this year to get a land at pinnock , am sure among the most expensive real estate in lekki at 150 to 200k par sqm , started calling again now that prices are coming down . Told him to chillax it will come down more , we just start

These are the kind of things I like to see.

RabbiDoracle:
I want you to face me. Don't face OGG.

Put your money where your mouth is.

Deposit N1m into someone's account. I will choose Jejebaba's account. Jejebaba is a member here.

Then we tell another person ( Person A) who bought Zenith at N11 to sell 40,000 units of his Zenith bank shares on Monday at N16.90. Because he/she will buy back at 11.90 according to you.

Where this doesn't happen and Zenith keep going higher, Jejebaba will needs to transfer your N1m to Person A to compensate for the unearned gains he may have suffered. The N1m is a projection that Zenith will hit N25 (based on the 40,000 units.

Where Zenith slides to N11, I will make a transfer of N250K to Jejebaba to pay you (Meshpips). The N250K will be the proceed as if you shorted Person A's stock from N16.90 (29th of May 2020 closing price) and bought back for the person A at N11.

Where it gets to N11, Person A will be excited and pocked the difference for selling at 16.90 and buying back lower. Person A loses nothing. It is only when it goes higher that person A demands that Jejebaba pay him/her once Zenith hits N25.

Are you interested?

Financial engineering!

onegentleguy:
It sure would be a scam !!
The "quit my job" part was very funny though.

Hahahaha! What else will man do?

But yep! It’s most definitely a scam. Most people here don’t give a Bleep and won’t even look at it twice.

stcool:
Me I no dey wait slide again...

Make I hear say Zenith touch N15 next week, me and my household go load am damn the consequences...I perish I perish

Now that’s the spirit. Regret is a useless emotion. It’s the enemy.

DeRuggedProf:
One director no dey look chart ooo. He just dey buy dey go.
He will still buy next week. Na the broker dey insist on looking at chart for him...
His funds are there to buy more...

Boss! Even at these prices, Zenith is still a steal na.

There is a high chance Zenith dividend yield will still beat the newly released Sukuk bond low risk investors are currently happy about.

Capital appreciation is nice o, but I don’t care about that. I just want to keep buying at bargain prices, so that one day, earnings from dividends go feed me and change go remain to mess around small doing Jijo for fun. No heart attack.

sellydion:
I am begining to see that this is possible I cant disagree more

Loco should lead the gang and be faithful like Oracle.

Hope he agrees

What goes up must come down. There is a reason people like Sir Oracle will be right most of the time.

You can be winning with short term plays for a while, one day school fees will still be paid.

emmanuelewumi:
What is the name of the fund manager? What name did the fund manager use in registering this products with SEC? Can you share the acknowledged monthly report of this fund as received by SEC ?
Who are the Trustees of this fund?

Very important questions.

10% every month? - hahahahaha. I am too sceptical.

10 million will give me 1 million every month? I go just quit my job. I no go read again sef.

faoogoke:
Your comment about Nigeria disintegrating reminds me of my aunty I came to spend time with early 2000 in Abuja.

She was reminiscing years back when land and market allocations in Abuja were very cheap, some where even offered for free.

I asked her why did she and her husband no invest. She told me they thought Nigeria was going to disintegrate. I shook my head.

She would have retired gently now. Now at over 60 years she has left Abuja and is hustling in Lagos.

Quite depressing. Hopefully we youngings make good decisions for our future.

Grupo:
I don't want to chitchat here but when are you and Emma sending us invitation?

Hahahahahahaha.

We shall see. The ministry is moving small, hopefully. Hahaha

emmanuelewumi:
You buy through your Stockbroker, CSCS is the depository of all capital market transactions

Thank you. Hahahaha

I re-read my question and felt like knocking myself.

ojesymsym:
Wow... And you are here thinking investment, lucky you to start early.

Make sure you marry someone with similar investment mentality and not those high maintenance slay queens otherwise you will find yourself liquidating all your investments one by one.

In short, before you marry, carry her come here for screening because I don't trust you, by the time they rub your head two times, you go release ATM password and account login details.

Hahaha! This man. �

Grupo:
Hahaha. That was why I was asking if there were under 30 guys here the other day.

Let me not lie, in 2,000, I was in primary 3. Hahaha.

Hahahaha! Grupo my man!

ukay2:
I have been in bond market since year 2000....no stories from FGN so far.

Bond investors are paid their coupons and capital repayment before paying FGN workers salaries

Some of my friends have FGN Bond 2049, 2050....and still waiting for FGN Bond 2090.

But if your not interested in FGN Bonds, your free to opt out.

Cheers! !

Sorry to ask this, but do you think you have fared well in the bond markets, relative to inflation and FX devaluations considering?

I am still an upcoming and seeing the stories of most of you is an inspiration.

emmanuelewumi:
Dr Ukay is someone I know, his annual coupons is more than his annual salary courtesy of his bond investments in the last 20 years.

These are the kind of things I like to see. �