pluto09:


OK.
That means the cedi is also depreciating.

Even more than the naira in 13 years.

emmanuelewumi:



If Soludo had redenominated Naira.

Old N100 will be N1 when redenominated

So the current conversation rate of Naira to dollar will be N4 to $1.

Houses of N100 million will be redenominated to N1 million

Your account balance of N100,000 will become N1000 the next day after the redenominaion.

Exactly!

What they don’t understand is that, this doesn’t mean we become valuable.

There is something called money in circulation. It was this they removed the 0, by using ratios to reduce it. When you multiply the value of the currency x the new circulation it remains the same. It won’t change.

Chai!

emmanuelewumi:



It is now C5.80 to $1.

Even though it was C1.00 to $1 about 13 years ago.

When the old C10,000 was redenominated to C1

Meaning it has still lost a lot of value in 13 years.

Nigerian naira has not lost up to that in 13 years.

Guys! Look at the numbers. Look at the charts. Not what you think.

DexterousOne:


Well said

That's the point I was trying to drive at.

In nominal terms
Japan currency weak
In the basket of 8
Theirs is the weakest
GBP and USD and EUR and AUD and CAD and the other two in the basket of 8 are all higher than JPY.


But JPY has an advantage

They are insulated to a large degree from forex shocks

The JPY sliding 20% tomorrow against sat USD or EUR will not trigger inflation that will cause for concern in Japan

Cos they can buy stuff produced at home


China used similar trick to outsmart America
Now it's too late, as the act has been done


This argument popped up because someone was trying to compare currencies of GH and NGA as the BASIS for which country is better

And if I told you JPY is the 4th strongest currency in the world, below CNY, USD and EUR, with GBP at number 5, and KRW at number 6, how would that make you feel?

I like how you argue, but in this one you lost the plot man.

The rand and one other African currency are the only ones that are above the Naira.

Naira is like 46 in the world. Shocked bah? Lol.

DexterousOne:


The Japanese yen exchange more units for the dollar than say the ZAR or GHS

The Korean Won exchanges even more units for dollars than the ZAR or GHS


I have dealt with Korean won years ago

10000 won was exchanged for less than 2k naira


I know what I am saying

You are still not listening. That price or exchange is not what determines the value of a currency.

You can exchange more Dangote Cement for 1 Nestle doesn’t mean Nestle has a higher value (market cap).

You are looking at the price, which we are telling you is wrong.

IamR:

You shouldn't have responded to him.

Hahahahahaha.

I really think arguments like this are a time for everyone to learn, me inclusive. So I don’t hesitate to share what I know, in fact I want to make mistakes and be corrected. I hope he learns a thing or 2.

And if we really want to be logical about this.

Which country does money flow into the most?

Nigeria or Ghana?

The numbers are there for everyone to see. Are these hedge funds or institutional investors stupid? Don’t they know what they are doing?


I think Ghana is honestly doing well, I think Nigeria is messing up big time. This argument is not about what you feel, it’s about what the numbers say.

Was it not here someone said something about Nigerians coming up in Negativity and what Nigerians can’t see foreign investors are seeing? Lol.

Noisyrians:
what stops Nigeria from removing zeros from its currency, if it is that simple? I hope next time you go and change money into cedis, you will tell the currency changer to add those zeros to the rate he or she will offer you,huh?

i don't know what all these negative sentiments about Ghana by nigerians is all about. Ghana is better then Nigeria on many scores. is it life expectancy, is it about FID inflows, even inflationary figures? per capita GDP, economic growth? poverty levels? access to health and education? access to electricity? access to health care? corruption index? Ghana leads Nigerian on every single assessment.

even the roads in Ghana are better than the roads in Nigeria. It is not enough to shout Nigeria is better than Ghana. Give us concrete and verifiable reasons to support that.

[s][/s]

Also, let me tell you something. 0’s are not removed because they automatically make a currency have better value relative to the USD or any other metric. They are removed to avoid a situation where we start using wheelbarrows to buy bread. The bad value of the currency will still remain. You can’t ignore that market cap, it will always be the same.

Noisyrians:
what stops Nigeria from removing zeros from its currency, if it is that simple? I hope next time you go and change money into cedis, you will tell the currency changer to add those zeros to the rate he or she will offer you,huh?

i don't know what all these negative sentiments about Ghana by nigerians is all about. Ghana is better then Nigeria on many scores. is it life expectancy, is it about FID inflows, even inflationary figures? per capita GDP, economic growth? poverty levels? access to health and education? access to electricity? access to health care? corruption index? Ghana leads Nigerian on every single assessment.

even the roads in Ghana are better than the roads in Nigeria. It is not enough to shout Nigeria is better than Ghana. Give us concrete and verifiable reasons to support that.

[s][/s]

The argument was not which is better.

The argument was where to invest money. Lol!

Instead of you to rebuff the arguments with numbers you are busy shouting this is better.

ojesymsym:
I can't even remember anytime that the Nigerian naira had better value than that of Japan. That line completely took me aback.

The problem is economics.

Many of us make that same mistake. Me inclusive.

This is why discussions like this are good. We all learn everyday.

pluto09:



Strong is a relative term.
Investors are more interested in the stability of currencies than the nominal value attached.

If Ghana cedi is 1 cedi to a dollar since they removed those zeroes till now,then they must be doing something that Nigeria is not doing with the way our currency has depreciated over time.

It’s the oil man. Always been, will unfortunately continue.

What will make Oil 200 usd per barrel today and many dollar/Fx holders will cry. Me inclusive.

As for the Ghanian currency, you do need to look at their debt though.

Was it not the same thing about Nigeria people were crying about here? How we keep borrowing bah?

Read this...
https://www.bloomberg.com/news/articles/2019-05-28/ghana-s-debt-at-the-highest-in-four-years-as-revenue-undershoots

DexterousOne:




VC is not mainstream in Nigeria

Agreed, but we are getting there.

Nigeria is currently at the time of Benjamin Graham and Buffet in his prime period.

We have companies like Paystack and Flutterwave already. More will come... I am sure.

VC? Na smalls. Let the wins come small small. There are many young guys doing things you can’t see now. No worries.

DexterousOne:


You are still not getting the point

Bro. JPY is far stronger than those currencies you mentioned. Forget the Ghana vS Nigerian argument here and see what I am trying to enlighten you on.

You said JPY is weaker than... was correcting you.

DexterousOne:



Have you done business in Ghana before?

I am talking of buying power. Not business.


Nigeria has it’s problems, I know.

There is a reason Ghana has to make that business flow.

The problem of Nigerians is Nigerians. When we are ready, we will do what is necessary.

DexterousOne:


That is not the point

Many Nigerians dont seem to get it

It has nothing to do with currency

And every thing to do with LEADERSHIP ans POLICY.


Japan has one of the WEAKEST currencies on the planet

Its weaker than NGN ZAR and GHS

However, the Japanese GDP is bigger than the whole of africa put together

And USA is owing Japan to the Tune of $1.1 trillion and counting

So its not about currency or adding or removing zeroes.


Nigerians we think we are all that
That has always been our problem

(AND AMERICANS ALSO HAVE THIS ISSUE)


Nigeria is making its strides

OTHERS ARE MAKING THEIR OWN STRIDES TOO

You are very wrong sir. JPY weaker than NGN?

Nope. The power or value of a currency is it’s market cap which is the value relative to something x the amount in circulation.

What you just said is like saying Nestle is bigger than Dangote cement or more valuable/expensive because of the price. Nope! You multiply the price x the outstanding shares to see what is going on.

Same thing with Crypt0. (B1tco1n and co...)

DexterousOne:


It's better to be actively invested in Ghana than investing in securities

Venture Capital is becoming a big thing in Ghana too

If you are lucky to strike the cord correctly twice

You will be made.


Quite shameful that we are not so big on venture capital in Nigeria


There are opportunities in Nigeria

There are opportunities in Ghana too

But Ghana is where I'll rather invest more if I had the luxury of choice

Bro. Who told you we are not big on VC funds?

DexterousOne:


What are you talking about sir?


I have lived and experienced life in both countries (actually multiple countries)

And I am telling you based on my own personal experience

That I'll rather invest in Ghana than in Nigeria



Nigerians and Americans behave in the same way in this respect lmao
Always triggered when theh hear stuff like this that make them think its putting the country down

Bro! Forget that one.

Nigeria might be turbulent, but I rather leave my savings in Nigeria than Ghana. Me I know what I am saying o. The numbers dey there.

Godbpraised:
Oga na hyper inflation go chop ur profit finish for ghana ooo, the way inflation dey jump up for ghana hmmm no be beans oh.

I don’t like that we are oil dependent, but Nigerians keep underestimating Nigerian oil and how it has continuously saved our savings.

Some people arguing nonsense that Ghanian currency is stronger than ours. I laugh.

If not for our population explosion that affects our GDP per capita... wetin concern Croaker with sardines?

emmanuelewumi:
Have you forgotten that cedi was redenominated about 13 years ago, whereby four zeros were removed.

Soludo wanted to try it will Naira by removing three zeros, but it was resisted

The fact that people keep forgetting this and think Ghanian currency is stronger than ours is funny.

After Rand, Naira is the next best thing in Africa.

Mcy56:

Lol @ jijo.
If such high profiled individuals are doing jijo, then there's fire on the mountain niyen.

Hahahaha. They are just normal human beings like us o.

ositadima1:
https://nairametrics.com/2020/06/23/breaking-nigeria-close-to-securing-3-billion-world-bank-facility/

Nigeria close to securing $3 billion World Bank facility.

My question is if Nigeria has $33 billion in their reserves why this loan? Is it that the loan is dirty cheap because of the Corona circumstances? Plus what d loan will be used for is not very clear.

The loans are quite cheap though. They are not up to 1% interest I think.

Still we need to be careful.

PETERiCHY:


Wigwe SOLD his ACCESS at N10 plus and he now REPURCHASED at N6plus what does that tells you

If conditions are the same, then he believes actual price is probably 7-8 naira per share or more depending on if former constraints still exists that makes 10 naira look overvalued?

If conditions are different (Better), maybe adjust for it as former selling price = X. So if things are better X > 10, 11, 12... depending on conditions and earnings I am too lazy to look at.

Or all this might be nonsense and he is just doing Jijo.

emmanuelewumi:



People are selling their houses to invest in some of these High Yield Investment Schemes, I hope they come out safe on the long run.

Classic case of ending in tears.

ositadima1:


Let them run, some new FDI are coming in, I heard the France's largest telecom company, Orange, is planning to come in. Soldier go soldier come.

This is good news. We especially need FDI’s and I am glad it’s a Telecommunications company.

MTN and Spectranet together disgraced me days back in an interview.

megastarkels:



I'm also interested pls still need valid info on this.

Called the number on the advert and was told the interest is 6% per annum (thinking tis small though) or will my interest increase as I top my funds?

Also Care agent who picked my call claimed fx rate is about "300 and something", I need to be sure ooooh- (I'm just a kindergarten when it comes to Financial Literacy)

Wait. Do they mean you can invest with naira?

DexterousOne:


Yea


If he was trading in stocks directly and by himself , I'm sure he would have gotten a better return

Exactly. Just imagine if he did that with Zenith bank or GT bank...

machine606:

I am having issues accessing the mail. I will reply.
Thanks

Alright, no problem.

Mcy56:

Oh!!
Sorry for the loss.
May God comfort you and the family IJN.
I would have said you of all people here won't buy Japaul.
Do take care dear.

Thank you. I appreciate you. So we dey together. Half-half.

But I am am sorry In advance though, I won’t hesitate to say my mind about it. If it does go up I will gladly sell. Hahahaha

CashDiMkpa:


Facts are facts. No spin is needed. If the whole volume available in a day are mopped up will the stock have made a 10% rise. Are you aware some of the "bids" in a day of full bid are well below the opening price for that day. You theory will not hold.

A smart guy(s) did it. Those who benefited should enjoy. Those with the short end of the stick should count their losses and wait for another day. Sometimes we get lost in trying to complicate a very simple thing. Its the nature of the market and will continue to happen.

Thank you for this. What they kept saying was funny, but it’s all good. It is what it is.

Mcy56:


Not expecting you to have it.
Why Japaul? Gut feelings? Sarcasm? Old stock in your portfolio?

You know I wouldn’t buy it. Hahahahaha.

My father. Lost him recently. Planning on what I can convert it to and send to my mom at least.

I have to first get the administrator legal stuff though.

Mcy56:


Carry the guy along in your next jijo move.
Mcy does not have any penny stock to recommend at this time.
I won't even talk about Japaul again....the thing is, I have it and still going to keep it.

Never thought I will say this, but we are in the same boat dear.

I “kinda” have Japaul.

Then the day will come.

NSE becomes sophisticated and maybe short-selling made easy will begin.