₦airaland Forum

Valueinvestor:
Happens at times
Send them an email for account update

Thanks oga mi sir. I have done that and it has been fixed.

Jejebabaa:
Has anyone who made purchase today via Morgan capital has it shares showing in his/her morgan account. The fbnh I bought today is yet to show in my total units as my cash shows intact.

Any update on this please ?

Vanhooijdonk:
One of my friends Dad that worked for Shell and that is the major reason he left Nigeria a few years ago to Canada to join his family. The crash of the naira really affected his ability to pay his mortage in Canada and take care of his families expenses.

He eventually went back to Nigeria when he got his Canadian citizenship because he was now able to charge companies in dollars as an expatriate. And that is what many Nigerians who were able to obtain Canadian, American or British citizenship, they were able to come back to Nigeria as Consultants and charge in dollars or pounds.

Hmmmmn, you are right oo but that expatriates thing is now getting more difficult with time in Naija oo due to the local content issue the FG is seriously pushing. They are trying their best to kick out the expats which I pray it doesn't boomerang in Naija.
In addition, the IOC's eyes are now very red everywhere looking to cut cost anyhow due to prolonged oil price crash which is around 5 years now from 2014. They now prefer to hire locals and cheap labour at lesser salary.
Imagine what a whole Chevron are now doing to 1st class graduates
https://www.google.com/amp/s/punchng.com/were-not-committed-to-first-class-graduate-trainees-others-chevron/amp/

salford1:
Not just Nigeria. People cheat everywhere. A Naija man living in Calgary, but works in Edmonton had his marriage dissolved. He was dating a Naija girl at the U of A in Edmonton. This was like 4 years ago.

Some of the electricians in a crew I worked with were cheating their wives, even though they are home every weekend. What are we going to say to those ones

Although, it might be easier for a man to hide his ways if far away from home. Still, cheating is global and men would cheat if they want to.

Gbamsolutely boss. You are spot on. If a whole Jeff Bezos of Amazon can cheat on Mackenzie in USA. It shows human beings are almost the same everywhere irrespective of geographical location.

Vanhooijdonk:
The local staff that are the top earners in Nigeria do not get that coefficient only the foreign expatriates. When the naira crashed a few years ago from around from 190 to 365 it is today, the exchange rate differentials even put Nigerians in top tier oil companies at a disadvantage because they were still paying international tuition fees and within a year they had to pay almost double of what they payed the previous year.

The naira crash is what really created the mass exodus in oil companies and the migration to USA,Canada and Middle East to work. The crash of the naira rally affected their fortunes. In addition some who sent their families to USA,UK and Canada had problems paying their mortgages which was in Dollars or Pounds.

Yeah, you are right boss. Nigerians working in Naija dont earn location coefficient except you are transferred to other African countries like Angola, Gabon,Congo and co.
Baba, you are too much informed about that mortgage issue. Omo mehn, some of my friends were badly affected with that mortgage in USA and thank God the guy finally got a job in middle east though at lesser pay due to his desperation of not losing his mortgage and couldn't negotiate for higher pay and also there was glut of Petroleum engineers then flooding middle east. So they got most of them cheaper due to the oil crises.
I used to tell colleagues that if we mistakenly lose our jobs now, we should forget getting a similar pay again cos there is now over supply of Petroleum engineers and the oil companies are now wiser in cost cutting by indirect hiring through 3rd parties at lesser pay.

Vanhooijdonk:
Nigerians oil workers in top tier oil companies like Shell,Chevron and Mobil earn around the same as their counterparts in Canada when you factor the exchange rate differentials. The only difference is that Nigerians oil workers have more disposable income because the highest tax bracket in Nigeria is 25% unlike the 49% they will pay in Canada if they earn above a certain threshold.

The pre-oil bust era in Canada was brutal. I know some Nigerians that couldn't find jobs for three years and had to work in factories or as Uber drivers. That is the only condition a man should leave his family to go and work in Nigeria.

Baba, its not true. It's the sector I am working. I know what I earn in middle east and what my colleagues earn in USA, Canada and Africa. Those working in Africa are top earners, followed by middle east then USA and then Canada. Africa has location coefficient of as high as 1.7, while middle east is not less than 1.3 while usa and Canada doesn't have location coefficient. The only reason usa pays higher than canada was due to the exchange rate of canada that got hit after 2012 which now exchanged as 1usd =1.3CAD.

salford1:
Interestingly, the two naija oil workers I knew back then in Calgary had their kids in private schools. The fees for the particular school were around $12k per child per year. It seems oil workers earn a higher take-home pay in Africa and Middle East.

Nobody wants to stay away from family as it definitely takes it's toll. However, this issue has been going on for a longtime since the pre-oil bust era in Canada. Some people will rather stay employed than being unemployed or underemployed. In addition, a man that wants to cheat does not need to be thousands of kilometres away to cheat.

Baba, pay structure of oil workers in middle east and africa are wide apart compared to what is obtainable in USA, Canada oo. In Naija alone, the location coefficient is 1.3 compared to what is obtainable in USA not to even talk of countries that pays as high as 1.7 ooo.
U cant all blame those that cheat oo, the temptation is real in Naija my brother. Imagine for a man working in oil and gas in Naija not seeing his wive for almost 5 months in those cold night. It breeds room for cheating partners oo esp for guys unlike most women. Women still has a control to an extent unlike guys if we want to face the reality.

Vanhooijdonk:
There is no point earning a huge amount of money in Nigeria only to be communicating with your wife and kids through Whatsapp and Skype in another country.

Gbamsolutely, you nailed it. Its better to take a pay cut and move to the same country with ur family. It's the sacrifice we do for family if truly the person values his family more than his job. Funny enough, some wives are the one advising the husband to stay put in Naija and be wiring the money to them abroad that they need the money to secure their future and that of their kids. What a selfish mentality from the spouse in my own opinion. What is the essence of life if you cant spend that quality life with ur loved ones and be physically present in their life.

Vanhooijdonk:
Most oil companies workers have keep their families in USA,UK and Canada due to the security situation in the country and the fact they will pay less tuition fees when their children obtain permanent residence and not international tuition.


Being away from your family and seeing them for only a few weeks a year takes it's toll. And most married men in the oil companies fall into temptation and cheat-body no be firewood. They also suffer from depression and loneliness as well.

You are absolutely right ooo. They started having girlfriend's and hidden 2nd wife with kids. They eventually ruined their home. Infact, it's always greener on the other sides and there is a price to pay for everything's in life. You cant eat your cake and still have it. There is a sacrifice to pay and the more reason people needs to do their risk/rewards analysis. There is no state of utopia anywhere and it's all challenges here and there. People should do what suit them and not because others are doing it. I used to tell people, immigration is not for everyone. Some people will relocate back to Naija while others will relocate abroad due to individuals objectives and goals in life and they shouldn't be criticized. Everything has both their pros and cons. Some of my colleagues who are westerns and we are both working in the middle east used to envy some Nigerians rotating to Nigerians. They all earned the same salary, the Naija guys doesn't pay tax, no student loans, mortgage loans and others and lives in a country with low cost of living and makes him achieve financial independence faster than them. So it depends on individuals priority in life.

DexterousOne:
True sha

The lucky few making so so much money in Nigeria will be reluctant to leave

You are right at the lucky few and the more reason for the inequality gap in Naija.
Funny enough, even the Oyinbos (Americans, Canadians, British and so on) working in Naija IOC are lobbying to remain permanent in Naija despite being a shithole country. These guys earns so much in Naija due to the location coefficient and other allowances they earn because they are working in Naija classified as high risk which makes them earn premiums more than they would have earned if working in their home country. You will be shocked at the number of Oyinbo kids in schools like Grange, British International Sch Lagos, Lekki British Intl school and co. Infact, some of those oyinbo kids now have Naija English accent sef.
When I joined the sector in 2012, I used to be amazed at the way those Oyinbos were lobbying to be transferred to countries like Naija, Erbil and Basra in Iraq, Luanda and co and not staying in their developed good countries not until I figured that, these people get 1.7 location coefficient in working in those countries. Imagine getting $170k for working in those countries instead of getting $100k in their home countries. Our CSO in PH, is a british oyinbo guy and this guy was telling me, he wants to die and be buried in Naija just to tell you the level of greed in some of them. They are enjoying dose humongous salary that they get blindfolded about the challenges in Nigeria as they get less bothered about it due to money.

MarquisDeSade:
Bills! Bills! Bills!

This Canadian dream sometimes feel like Canadian slavery!

I was watching a video on YouTube about Canadians with very 'marketable' degrees like Engineering and Accounting who have to work three jobs just to pay their bills...I was just wondering if this is the same Canada some folks want to quit Chevron jobs for.

I think many Nigerians need to watch videos of ordinary Canadians earning minimum wage trying to eke out a living in cities like Toronto and Vancouver. I'm sure many would not be as enthused as they are about this 'Canada Waka' if they understand that the struggle of living in Canada could be as tough as the process of getting into Canada.

What are you writing oga? How many Chevron employees do u see quiting their jobs of around 40M naira take home (145k CAD) per annum in Naija to migrate to canada. What most of them did, is to do short landing and keep their families in canada. Infact, I know of people quiting their job in Canada to take up IOC's job in Naija.

bigjay01:
I believe there is still a manual element to EOD account reconciliation. Happened to me a few times. Sometimes within 2 hrs after close. On one occasion it was reconciled b4 SOB next day.

Thanks oga mi sir.

Uchetoba:
I beleive they are still working on the platform it may show b4 tomorrow morning. Even the stocks that I sold and the ones that I bought are yet to reflect in my portfolio summary.

Thanks boss for this reply. Its nerve calming.

Has anyone who made purchase today via Morgan capital has it shares showing in his/her morgan account. The fbnh I bought today is yet to show in my total units as my cash shows intact.

bigjay01:
I use either Azimo, Transferwise or WorldRemit from UK. Monet in my account in about 5minutes or less. Then transfer to Morgan.

Gone are the days of getting anyonelse involved

What is the transfer charges like though I have been using the same Everdonbdc for over 5 years and they never disappoint me.

ositadima1:
But why ?

Oga na the person wey own nairaland be that oo. Na so he want his things oo. Case closed, that's Mark Zuckerberg of Nairaland. Seun Osewa founder of Nairaland.

I am sorry at ogas that sent me PM, I was onshore with limited internet connections and was busy lately. I am just catching up with what i missed on Nairaland. Pls accept my sincere apologies.
Cc oga ukay2, IamR and co .

emmanuelewumi:
Some of the guys here are there.

Send a private message to Jejebaba, he is one of the Ogas in the group.

I hail sir. I be small boy oo, that group is too loaded and I stopped talking on that group since I discovered the calibre of people on that platform. The likes of KOD was in 500L when i was in 100L not to mention some oga's them.
Thanks sir for making me an admin in the group. I really felt privileged to be added to that group sir and God bless you real good for the initiative in creating such group.

Barrytone:
Landlord tenant wahala: my tenant been chasing me with cops. Been invited for Monday officially since they couldn't get me on the weekend to make me spend weekend in cell. Got wind of their plans. Summary of events, rent over due. Ask to leave, not discussing after expiration, frame me that I lock her inside, police working on illegal detention. Thanks for reading

Boss, y are u still dealing with all these tenants. Your health and life are priority. Give those properties to real estate companies like Jide Taiwo and co among others. They will charge you just 5% if you can negotiate well and your sanity will be intact. This is exactly what I did, I cant be dealing with tenants and their wahala.

eniorisha:
I pray so o. But one needs a sustainable job to keep body & soul together B4 then. Working one ass out as a teacher here on a salary of 15k. Imagine, in my education field. Yet, one clueless govt agent TRCN demands like 11k to licence me as a professional teacher.

It's so pathetic the situation we found ourselves in this country. My cousins wife was also paid 15k per month in a sch despite graduating with a 1st class from the university. I was so happy when my cousin finally took her abroad. This kind of pay is highly demoralizing and kills the morale in students having learnt that their teacher is a 1st class graduate teaching them with such a meagre salary. A similar incidence happened to a senior friend who graduated with a 1st class in Pet Engineering from UI and got PTDF to study MSC Pet Engineering from Imperial College, London and also graduated with Distinction there. The guy declined tke job offer he got in UK upon graduation and returned to Nigeria, that God asked him to go back home. On getting to Naija, the guy couldn't get a decent job but had to resort to a teaching job in a school. The students he was teaching was shocked to hear that he is a 1st class graduate from UI, he said he cant even let them know that he is a UK Distinction graduate as well. This kind of situation can demoralise students. Anyway, I was so happy for him when he finally landed a job with ExxonMobil. We really need to pray for this country and encourage students to also build other sellable skills while in sch that can make them independent and job creator.

lancee:
Lucky u jeje ..what was the rate offered ? ..Think urs was a PL [ personal loan]
0 % is for Cc with balance transfer or money trsfer fee mostly 3% or more

Yeah, mine was a personal loan of 4.96% interest rate p.a

bigjay01:
i was referring to money transfer credit cards at 0% interest for 3 years.
Ex a CC with £20K limit will generally allow you to draw about £18k (90%) with a one off fee of 2.99% (£540).
Do the maths!
Barclays is offering me one at the mo, with 2.99% fee.

Oga mi sir, this looks like a great deal ooo. What are u still waiting for except I am missing sth. My own credit card, you will have to pay back the full balance monthly to avoid charges and the cash withdrawals from the credit card is just 30% of the entire credit card worth.

lancee:
36 months ..that na good deal oga ..Max I have used /offered was 12 to 18mths

Mine is 60 months (5 years) though, I think most forex loans are in those time range 36 months to 60 months more or less.

robobo:
My Oga i know wan blive say devaluation (whenever it comes) wld meet u on d loan

d second base wey oga oracle dey usher in i blive wld come b4 any devaluation. u can bail out as soon as d second base come and pay out the loan (while enjoying ur gain therefrom) so that the negative (of devaluation) does not meet u on d loan

Amen oo, thanks for the advice sir.

RabbiDoracle:
It can't meet it. Even your DY sef will beat the interest + part of the devaluation.

Absolutely true sir. Thanks.

robobo:
i bought d little that my cashflow cld sustain then

na because more cashflow come now i wan buy again

my oga just pay me my gateman salary unlike una wey dey collect FAAC allocation monthly (blackgold things)

i even beg oga jejebaba then make him include me for hin foreign loan (like baba buhari own) wey hin dey arrange then but he use style dodge me

make una help me beg the chinese man make him come my yunction, i beg because me self wan enjoy dis second base wey dey come (make una no enjoy alone)

Boss, u better pray for me make I no file for bankruptcy. If devaluation meet that loan, na serious yawah be that ooo.

Sleemzy3:
Hi guys. I bought treasury bills from zenith's secondary market and was told the interest is about 7-8% as of last week. They deducted my money now and I got a ridiculously low interest of 44k on 5,500,000. The duration I filled was 90 days. Even the last one I did in May, I got 251k on 4.2m at 12% interest. Can I cancel it?

This one is fixed deposits oga, 3.2% kwa. He don red ooo

zamirikpo:
AM at stanbic now and I just told my account officer to place a bid for 65m. When the actual amount in my account is 6.5m.

Let's see how it goes. Let them prorated at 10% am waiting.

WE DIE here.

Respect boss, you just finished me with laffs in the middle of the night. Naija no dey carry last.

lancee:
My oga jejebabsy is loaded for zenith and uba .. millions of shares ...with more stocks pick he can buy others

Oga mi sir, i just gentle like my name ooo, we just dey look forward to handle the kaya to our foreign brothers and co.

Mcy56:
Don't conclude like that sir.
There are still doubting Thomases as well as money bags who's in the market already and still have bullion van load of cash here. They can easily pick more stocks. Jejebabaa I didn't mention you o.

Me wey be ordinary foot washer. Anyway, fund exhausted as i am 100% in the market. Lets see if person go fit buy when salary alert enter next week but as i dey so "Enu gbe".

chigo4u:
6.2%? Really.
How is cbn gonna fight inflation now with the ban on OMO bills and low tbills rate while at the same time defending naira against dollar?
Economic wonders

Don't be too happy boss, this very one will nosedive as well due to excess liquidities in circulation.

9jatriot:
I just did a 359 days @Zenith a few hours ago. Rate was 8% p.a.

Congrats boss, people will later come to congratulate you and see how lucky you have been when 364 days declined to 7% and was still only able to buy just 10% of their entire fund due to the bank porating the tbills.