₦airaland Forum

WhoDeyHause:
If opay and palmpay can do id card verification on their tier 1 accounts many of those scammers will run away because they get different sim cards to open account with different names to do their scams. It's always at tier 1 which can allow you have a transaction limit of 50k while higher tiers require you to put your id card which they don't have since they opened the account with a fake name. Once they are caught there they abandon those accounts and move to another one. Kuda stepping up on their security and verification made those ones to run away.

They are trying to make account opening easy compared to conventional banks. That will always be a problem in a country like Nigeria. More than 90% of money that is fraudulently withdrawn from any account ends in Opay, Palmpay and the likes.

PrinceEma:
I get Opay..but na palm pay and kuda I dey suspect mostly to be the den of scammers.

I really doubt Kuda. Palmpay and Opay are the main culprit.

Seun press this Senator neck no be small. I can't laugh alone


https://www.youtube.com/watch?v=tGdfty209Z4

iamoyindamola:
Just look at him saying they are hating 🤣🤣

Covid o, opay o, recession o, these banks are declaring billions of profits every year. They have hacked the art of making money.

A40:
Lol that billing na like curse. Even the ones you think have money and you breathe sigh of relief when you meet am, na their billing dey even high pass. Na more of Black woman problem in general sha not just our women. E get why #RentDue na popular trend for Twitter every end of month. And na them dey always dey center of am stylishly requesting for resources

Woman wey casually dey my WhatsApp see my picture with me and some oyinbo broses for my Popsman club. Disturb me sotey say she wan sabi my friends. Those ones sef get jungle fever but them be over kaku. Introduced them, e no reach three weeks e start to dey show am picture of wigs and dresses say her birthday dey come

Them no dey even Nurse client, these women will bill you inside 2 weeks

Na why I dey run. Any small greenlight next thing na house rent or birthday party

iamoyindamola:
Mugu they are doing people like you a huge favour where's the hate
Majority of those scammers use these banks because it's very easy to get inflow without kyc
What do you know than copy and pasting Fabrizio on twitter

Most of these guys are very ignorant. Banks don't make any serious money from their retail arm of banking. Like Lapo, Opay and the likes are not their competitors.

Secondly, all microfinance banks are mandated by CBN to have an account with traditional banks. Microfinance banks don't have accounts with CBN. Traditional banks are the intermediaries. In essence, all the money still ends up with them.

Thirdly like you noted, the rate of fraud on Opay and palmpay especially is something else. I hear fraudsters ran from Kuda because they are very strict. You'll notice that the popularity of Kuda seems to have gone down.

If other banks should do the same, OPAY and the likes will tighten their belts. They had it coming.

Foodempire:
The app and website haven't been working for saving account opening, the app will direct you to the website and website will redirect you to the app. I want to fund my eurobond account with fbnquest, what's the best way to go about it without incurring excess charge?

It will cost you $30 if you send from your dorm account to your eurobond account.

Foodempire:
How can one open a dorm account with standard chartered? I've been struggling to open even a savings account with them with no success.

Have you been to any of thier branches? Not sure you can do it online.

Dum20:
I spoke with Stanbic IBTC Asset management and they said your capital in this Fund is not guaranteed. That due to some circumstances you could lose part of your capital.

There is no investment that is guaranteed. Under some circumstances, you can always lose your capital. The key is knowing your risk appetite and diversifying your portfolio

GloriousGbola:
15k will give you a 40gb Swift plan

with free browsing from 11pm to 8am

20k will give you a 120gb airtel plan


i no wan talk glo because i have them and they are shit. though airtel also gets k leg on and off.

i left spectranet years ago after i found that they were deliberately throttling their free download period. i actually wanted to try them again 2 weeks ago, only to find that the plans i was told they have are audio

It's 11k for 40gb on MTN. Without going into specifics, Nigerians have to realise you can hardly get rates better than what the major players give.

BlueRayDick:
As an... I just dey look open mouth like this.

Something wey be say LASTMA and task force go don impound ur vehicle since say u follow one-way.

Even the roads and roundabout wike built, the way everybody just dey try use the roundabout at the same thing just dey amaze me

No one really enforces traffic compliance here.

Even though there's hardly any reason to use it because the roads are mostly free of traffic, some animals still drive one way.

Wikes task force used to clamp down on them but they took them off the road in the build up to the last election. Since then, everybody does as it pleases him.

raumdeuter:
They are not all good also, Some of them are very needy and are very possessive. Have you seen the movie "Gone girl" before? Some of them are on that level

Foreigners can love very hard and even to a disturbing level sef, So if she thinks you are cheating or about to leave her, Things might not be funny

I get one guy wey get white GF, when he wan chop Naija food na my side he dey come cos the white girl cant stand the smell, the taste and the preparation of our food. My guy go cut meat finish, cook, na the next 5hrs the white girl go dey use bleach clean the sink and spraying the wall cos the food grosses her out. So how you wan add crayfish, locust beans and pepper to food

One of the reasons I don't think I'll ever have married a white woman. Me wey no dey use my amala play.

The cultural differences are too many. I don't have the time to start adjusting and living the way someone expects me to live. Ko le work.

malcom1X:
If I ask you now to name one project that woke did, you won't be able to.

I'm talking about you not anyone else. The truth is I can name projects that amaechi did, how come no one can name the project Wike did?

Apart from flyovers.

That's why I said you're drunk

Cancer and rehabilitation centre
Law school
New campus of Rivers State University in Ahoada
Rehabilitation of BMH
Pleasure Park

And many more too numerous to mention.

malcom1X:
Very correct.

Sullivan chime will compete with fashola anyday. I would have added Wike but I think Wike had nothing to do apart from building flyovers, he didn't bring development to his state.

What I meant about Wike is, he had so much money and was spending it on flyovers because he couldn't come up with an idea for his state, either because amaechi had done all the work or he just couldn't come up with ideas

You are drunk

Amigoss:
So na propaganda dem want take solve all this issues

It will soon get to a point where no one will take them serious again.

Ibime:
Yeah they are not spending a dime but that's what they would need to spend to maintain peg, and they don't have anywhere near that kind of reserves. . .so freefall continues

They are still defending it. They are the largest supplier of dollar in the I&E window. Just not as much as they used to supply. We may be talking about 2500 now if they had allowed the free float as they initially said.

BlueRayDick:
They didn't get the loan keh? But they celebrated it all over the internet back then na .

Shey that one sef na propaganda ?

Sebi I said it. This government is very big on propaganda. You will expect them to secure the loan first before coming to the media about it.

They never got it.

https://www.businessday.ng/news/article/naira-back-in-freefall-as-3bn-afrexim-bank-loan-stalls/%3famp=1

Amigoss:


Whatever happened to this $3billion loan from AFREXIM BANK?? What was it used for? It has gone into voicemail....

I don't think they ever got it.

Looks like they do this to keep the dollar from spiralling out of control. Like the 3bn loan, lifting of ban on the 43 items and now 10bn loan.

This is sad to read

https://www.nairaland.com/7886996/10-companies-shutdown-over-worsening

opamoses1:
Naira is finding its real value. No more padding it with $1.5 billion monthly.

It will surely stabilize then healing can begin.

CBN is still padding it. You don't have any single idea what you're saying.

Ibime:
Rate of return in Naira abi dollars?

Anything asking people to change dollars to invest in Naira denominated stocks at ATH is the work of village people

Though NGX recently surpassed 2008 highs, it is still ten times less in dollar terms, and most NGX gains are driven by a handful of companies

With all the highs recorded, FPIs no gree come in. There's a reason for that. They are not foolish

Omojox:
Thanks guys, does anyone have experience with the I4 and V6 engine? Is the difference in fuel consumption that much as people say? Like 2times more? Or it’s just abit more? Thank you

Depends on the exact vehicle. All V6 engines are not the same. Same as the 4 cylinders. .

If you don't use the vehicle for transportation and depending on how you drive and the vehicle like i mentioned, the difference in fuel in one month will be anywhere between 1-7k

BlueRayDick:
This ur March to December 2008 timeline ehn, I don’t know how true it is o.

I know my old man lost millions too between that 2008 to 2012 when value of stocks drop crazily . A lot of elderly people who used stock as their retirement plans either had stroke or died from the shock during that period and beyond.

It was much more later that stock picked up.

The major crash happened with those 9 months in 2008 and parts of 2009.

It's possible the ASI didn't return to the high of 2008 before the crash until 2012. I haven't checked so I'm not sure.

Foodempire:
Wanted to buy some dollars today for investment aboki dey quote me #1,240 per $. This is ridiculous, we don't know if there could be any intervention by the CBN soonest, everything just tire me. Try and error governments

There is no better time to buy. If CBN intervenes and it crashes after you buy, even better. You buy more and average down.

raumdeuter:
What of in 2008 2009 wey stock market do mega madness

It was culminatively between March and December 2008.

Up until 2018 or thereabout, the maximum a stock can lose or gain a day was 5%. It's now 10%.

emmanuelewumi:
I use United Capital, the beauty of their Eurobond Fund is that you can borrow against your Investments to the tune of 80% the black market rate value at interest rate of 18% per annum

Makes sense. Not sure if FBN quest offer the same.

A40:
Depends. If you're one of these niggas that buy a bunch of these useless pennystocks you will definitely lose money.

Could he have lost in a single day maybe not but within a short timeframe that's what he lost.

Yes, this is more like it. Very unlikely he lost it in one day.

A40:
They're all ponzi. Anything short of buying Treasure bond

You just pray you don't jam agbako. My very first landlord back in 2012 lost 80m in one day for Nigerian stock market. The man developed stroke and was selling property at giveaway price to treat himself.

All na appetite for risk and ensure your losses are manageable unless you be trustfund baby

The man dey give you bobo. As at 2012, stocks don't gain or lose more than 5% a day. For him to have lost 80m in one day, means he has 1.6bn in his trading account.

I don't see how such a man starts selling properties to treat himself.

Allboiz:
Please which platform do you invest. Also, how do you invest by USD cash payment since most platforms available accept only transfer.

Open an eurobond account.( I use FBN Quest) Open a dorm account with standard chattered. Pay in your dollar into your dorm account, transfer it to your eurobond account.

You can also use any other dorm account but you will pay excessive transfer charges.

BlueRayDick:
It will be worth it in the long run that’s why I have u that example up there .

The truth is in Nigeria nobody will treat as much as u believe u are worth; he must be prepared to bargain hard and Jump ship as soon as more opportunities present itself .

Nothing is cast in stone in this country .

I was going to say the same thing. By the time he switches jobs 2-3 times, things don dey very soft.

iamoyindamola:
600 after tax and other deductibles you sure?

Yes, I'm 100% sure.