₦airaland Forum

Aren't you all worried about the fact that Nigeria spent 38 billion USD last year defending the naira? And our current FX reserve is 43 USD billion? Do you all think this is sustainable?

RealityShot:
this your estimate places ROI at 20 years!


do you really see dangote as one to wait 20 years to recover his imvestment?


BTW, i think remember it was dangote that encouraged FG to remove subsidy so that he can build that refinery and sell at the higher price in order to achieve profitability... I am wrong there?

People don't read the news and current economic realities, all they do is ply on optimism, too much optimism is dangerous. Many will learn soon.

freeman67:
OK.. But What's the Telex charge for again?

That Telex charge is quite horrible and I find it surprising transfers within the country are unrealistically high.

IamtrulyBlessed:
Stanbic doesn't accept cash deposit into the Dollar account. However, you might consider issuing a cheque or transferring to the account. Except for telex charge of 6k, the transfer charge might not be materially different from the charge on USD withdrawal from domiciliary account.

The reason why dislike the way Stanbic is handling it is if you transferred 1K USD for instance, those charges are equal to and if not more than the annual yield on 1K USD. That doesn't seem fair to me.

freeman67:
No, not really I just want to diversify my investment because you never can tell which one will stand strong when there is need.

About the transfer charge for Stanbic, I just collected their form waiting for the redemption from Investment-One. However, when I was about to go into VDF the transfer charge looks big then too. I was just advised by a banker to deposit the cash into their account instead of transfer.

Though stanbic gave me an account no without telling me the mode of payment but with this your observation now, when my money is ready I will confirm and if it is only by transfer I will consider United Capital too as you said because even with their SIMMF and SGIF you can't deposit money straight.

Yeah. I understand. Please keep us updated, would really want to know if they allowed you deposit instead of transfer. I know the firm holding the money for their Eurobond fund is Standard Chartered Bank, and that bank is as scarce as they come.

If you want to do anything with Stanbic, I feel their SGIF is far better than their SIMMF, especially with past performance.

If you also have any questions on United Capital, do not hesitate to ask.

freeman67:
I expect to hear from them soon... Even if they don't acknowledgement my messages all I want is my money in my account let go and open a dollar mutual fund account with Stanbic.

This one you want to open a dollar fund, you feel our naira is about to misbehave?

Also, I tried opening with Stanbic but their transfer terms didn't make sense at all. Let's assume you want to transfer 1,000 USD with the charges involved, a huge chunk of the annual interest would have gone already.

I will advise you use United Capital, they allow deposits instead of transfers. Though you can ask Stanbic if they allow such, I asked them, they said no though.

freeman67:
I have tried very hard not to say anything about the negative vibes I have been getting from investment-one here but the more I tried not the more they push me to want to say something.

After VDF was marketed here, I contacted investment - one and I was given a rep to contact. I contacted the rep and everything went well.. She assisted me where there was need and the subscription was successful. After a while I was sent an Internet login details. I logged in, change my password as required and everything was set but I could not access the VDF through it. I tried sending a mail but no response.

I went to their Abuja office to see a possibility of using the details to access my VDF account (@least to see if it is even growing) but they couldn't do anything. There contacted their lagos office and was told network there isn't good. Then I requested for a statement to my VDF account but they could not give me too.. Again they contacted lagos and Lagos promised that as soon as network is fixed I will get it I said OK and left. Expecting to see it till after a week of not seeing then I contacted the rep that assisted me when opening the account.

She connected me with someone in the department that is responsible but instead of the statement the lady sent me a subscription certificate instead. I complained to her that it is not what I requested for but she still could not give me the statement.

I called the rep that referred me to her again and she apologised. I requested if there is an app or way to see your investment daily but she told me there are still working on that.

I felt uncomfortable with the whole thing... So the next time I was free I dashed to their office to redeem the fund. They gave me a form to fill.. I enquired on how to feel the form and the guy that gave the form explained then I asked if I could mail and he said yes. After filling I was thinking of mailing it then I had the opportunity of going towards their office so I decided to take it there. When I got there I met another person who told me that some info the first man said was not necessary was actually required. (Swift code, correspondent Bank, ABA, no and co.) so I contacted my bank Customers Care and they sent me the info.

The info however came in like 10 different types. So I enquired which one I should use but they didn't have a clue and insisted I still visit my. When I got to the my bank, the bank too didn't know what Investment-one want but they just chose one out of the many corresponding banks given to earlier and printed. Then time was already gone so I left the bank and decided to mail them the redemption form the next day which is yesterday. I mailed it to about the 3 e-mail addresses I got from their office but till this moment I have not gotten any form of acknowledgement.


My concerns are that; investment-one was formerly a GTB subsidiary how come there are this inefficient? I was actually testing them with the minimum amount required what if I had done more...? Even though StanbicIBTC Asset management customer care online response seem to be sluggish there is no day I have gone to their office issues like this are not resolved. Since investment can show me my investment movement record online and in their office how do they expect me to follow/track my investment? How go I know if I am loosing or gaining?

I expect to hear from them soon... Even if they don't acknowledgement my messages all I want is my money in my account let go and open a dollar mutual fund account with Stanbic.

Chai. I am sorry for all this stress man. Thank you for sharing with us.

Benz101:
I fear that Nigeria May be like Venezuela the way the economy is going. This may affect base if it happens

Is it the current inflation levels scaring you?

zamirikpo:
Like @Gonfreecss said , hope and fairy tales.... that refinery isn't owned by dangote alone, the money blocks in this country own huge shares and would stop at nothing to ensure they reap max. Profit. Let us pray he will sell below N135/litre.

Normally with local production ,we shouldn't but fuel more than N80/litre. Reason being that this my guyz in warri that cook diesel don't sell it above N40/litre, without any loan from govt or real technical know how. Yes they steal the CRUDE but even if u sell it to them , am sure cost will still be below N100/litre for diesel ooh. And sure u know diesel cost abt N240/l now. So therfore dangite ref. Shouldnt sell fuel above N80/litre, diesel N100/litre and kerosene N50/litre but alas watch what will happen,Just like the privatization of NEPA.....the difference won't be meaningful.


Shebi we have limestone in Nigeria, why did I buy cement N2500 last month, when I remember vividly around 2004/5 cement was sold for N700 bucks. Compare prices with other countries and see....

Nigeria MAY CHANGE but if u are above 20yrs now, o boy not in our lifetime.

I still dey vex

You understand my sentiment very well. Hope is never a strategy. All I have seen are people hoping Dangote will do this or that, they have forgotten it's a private company with foreign investors who invested in dollars.

Last year our CBN used 38 billion dollars to keep the naira rate stable, our current fx reserve is 43 billion USD. Investors won't invest in the Dangote refinery if they don't think the profits will outsell inflation and cover FX risk to an extent. For that to happen whatever comes out of that refinery won't have any subsidized price. All I will say is do the maths.

Deadlytruth:
STANBIC's OS figure is 10bn units unlike GTB and Zenith that are almost 30bn each. I think this creates a relative scarcity for STANBIC as well as a higher EPS for a smaller PAT hence a stronger upward pull for its price on NSE.
Midas Stockbrokers once explained to me that most of IBTC's 10bn shares are in the hands of foreign individuals who hardly sell. This is also another factor.

The foreign investors who don't sell is an interesting point I have been thinking of too.

Mpeace:
My broda, that of stanbic is understandable. They a very big investment arm that can move any stock.
But I no understand zenith/gtb price difference.

Hahahahaha. I understand you.

Mpeace:
I have seen the reason. Stanbic EPs is 7.05. They have done extremely well. Let them fly.

Zenith and probably UBA (will) have a higher EPS yield relative to their share price. Why can't they fly too?

The answer to this questions are gold.

Mpeace:
Zenith has done better that stanbic and gtb in terms of dividend yield

Anybody who knows the reason why stands to make a lot of money. It baffles me too. I also feel UBA, UCAP and Afriprud, should be trading higher too, if we look at Gt bank and Stanbic, but alas... market happens.

Haypril07:
Yes bro, am ready to give in the #10,000 as investment.

Please advice a reliable source to invest in.

If you are the same guy I quoted on the Tbills thread, my advice is to first understand your risk capacity. I feel for now low risk should be it, if you can't handle seeing your money slashed.

Haypril07:
Yes, that is the money I have to invest for now.
Am still very new to this and I can't risk much of my savings/earnings because am a student.

Put that money in low risk mutual funds and keep topping it up slowly.

locodemy:
The presence of foreign market participants will never allow it to fall to your expectation.Stanbic is another stock like Gtb.

I think zenith Bank need to do something to match with Gtb in price.

And also, GT bank, Okomu Oil and Beta Glass have always felt like growth stocks to me, because of the way they have trended upwards.

First bank, UBA, Zenith, Access just have this haphazard cycle. They never seem to trend upwards and this defies the logic that over time stock prices should go up relative to inflation. Zenith bank feels like it hasn't done significantly well with inflation, price wise, which is surprising. It might be the profit margin theory I have or something else. Do they do stock buy backs? Does the company or Foreign guys hold so much they don't want to sell? I noticed Okomu oil and Beta Glass have almost no liquidity/trading volume. GT bank is an exception though.

If anyone can really know why Okomuoil, GT bank, beta glass and co are behaving differently than Zenith, UBA and co, then that person will make a lot of money.

locodemy:
The presence of foreign market participants will never allow it to fall to your expectation.Stanbic is another stock like Gtb.

I think zenith Bank need to do something to match with Gtb in price.

I have a feeling it has to do with profit margin. Zenith might beat GT bank in net profit, but I have noticed GT bank always has a better profit margin. Meaning they make more money with less available money relatively than Zenith Bank. This is the kind of things foreign investors like, I might be wrong though. Wish I knew with actuality.

RealityShot:
lol...
this is NigeriA.
Dangote can force artificial scarcity whenever he wants and sell his products at a premium for a few days.


remember he has done it before eh...?

He has always done it and still doing it. Cc Dangote Cement. We like hope and fairy tales too much in this country.

Gavrelino123:
On the contrary,a better Economy and a stable local currency(Naira).

I would seriously like if the rates went lower.

Nigeria is borrowing more than we earn. It's not sustainable long term..

Yayira:
I just hope he meant hard for the corrupt people because I can’t imagine a leader saying this to his people..

Lol. My dear. That is what he said, infact he said for the next 4 years i.e. his tenure. Let's just see how things go.

ahiboilandgas:
that the speculative part ....very unpredictable...if 1.5 was sold with 6 month at .1.8m the return is around 40 percent against 15 treasury bills

I rather even buy Equity than land. Liquidity is key.

Some people think they can always sell land higher than the price they got it as, well, life can be funny.

Lol!

The guy above might be right. Since it's the same thing I have always felt about how too optimistic people are. Buhari just said the next 2-3 years will be hard. Hahahahahahha!

Wahala!

Bungalow:
una no get chill o .

Lol!

I love how guys here don't joke at all.

Hahahahaahahahaha.

RabbiDoracle:
Stop fooling yourself!

The same FPİ that made money early 2018 under PMB will be running away?

You don't know how FPİ thinks. Zimbabwe, DR Congo, are still trading yet their own issues can't be compared to Nigeria.

What if the selloff was caused by them so that they will have talking point?

İf NSE rises today it will be as if he was the one that begged FPİ not go, hence the rise.

My dear, make una dey tear head for the election. Not my business. İf market falls, we buy. İf market rises, we wait. Head or tail, I dey game.

Well said brother!

OBAGADAFFI:
I am missing real traders on this forum.

Erm. Boss. I don't understand your statement as I am not a trader. Or did you mean something else? Please kindly open my eyes or mind.

feelamong:
Today's Auction was madt!!

massive funds in the market and all rates crashed wella..

One year rates looking at 14.37% (make i try confirm am first)

Seems many are running away from the stock market to Tbills and Bonds.

Willie2015:
From N10.50 last year to N16

Lets wait for the market reaction 2morrow

Earnings yield with respect to price is on par with inflation. Lol! This is not progress. It's a sacrilege. My opinion.

Mcy56:
The double-mouth unreasonable hater has arrived, jumping on thread without reading.
Who's having red in her portfolio? So speaking generally on fall in prices due to sabotage is your problem again.
Your bitterness and hatred shall find you out but I hope you get well soon sha.

My dear, let's not go there. Please, let's bury this hatchet. I am begging. I normally don't involve myself in fights. Please.

Yayira:
Hahahahahahaha On this note, Oga know it all you are free to mention the Diamond woman name.. lolz
This shi needs to happen to those that attacked her for them to know exactly how it feels like!
We all are humans not robots! So it’s normal to frown at a losing portfolio!..
Abi we go steal the money ni ?
...But insulting that person whose portfolio is on red is pure evil !
If you don’t have anything nice to say to that person, is better to keep it short!

“If you can not accept negative comments on your stock, you have no business trading stocks” lolz still remember that line

Loool! Since you have decided to address me directly. I will address you back. The reason I didn't want to mention your name is because I am not a fighting online person. So I wanted to avoid any direct conflict. I know if most of us meet in real life we will all not say some of the things we say to each other. It's because this is a faceless forum. So let me apologize first for all my statements that might have not gone well with you.

Thank you for quoting what I said right back at me. I also apologize if I come off as if I know it all. It was never my intention. You are right, people are not robots. Seeing red is not funny.

With that said, I hope we are cool now?

arduino:
I just dey wait to cherry pick all the stocks wey I been miss before......
I no go mind;
DangFlour @ N2.00
DangSugar @ N3.00
FCMB @ 0.50k
Fidelity @ 0.50k
Transcope @ 0.45k
WEMA @ 0.20k
UnityBank @ 0.10k

An an boss! What kind of wicked prices are this? You wan kill person pikin?

Mcy56:
Boss not insulting at all but I've been visiting politics section since result collation started and mehn, the kind of bitterness and doom speeches coming from those PDP supporter's heart could be felt in their writings, which I think its not fair or good for the progress of the country.
Since Inec made the verdict, I expected everyone to return to status quo.

I honestly don't like talking about politics because of this. I feel Nigerians should support whoever is in power whether they like the person or not. That is our duty as citizens. With that said, my dear I will advise you to ignore anything political, it will change this place to a political thread of people throwing insults. I apologize for my Transcorp and Bearish statements though, if they offended you. It's all good.

mendes911:
Leave that matter bros. No bonanza is coming. Am just not envying ChiBuKing at the moment. He missed out those juicy prices, bought higher, only for prices to reverse.

Obene Kwa Kwa.

Lol. I said it myself that when the real Bonanza starts even people shouting Bonanza will run.

I might be wrong, but when everyone keeps talking about bulls what usually follows is not always bull. That is my experience in the financial markets.