₦airaland Forum

zamirikpo:
Chai....why did I come late, it's the respect I have for ur views and that of @ grupo @lancee and @ sach , I had more insults to dish out to some people's reasoning, but since u have called for peace let me stand down.

But bros tell them ooh.....IF THEM NO KNOW.....MAKE THEM LEARN.

IF U KNOW, U KNOW...

zamirikpo:
Chief....i can bet u that the naira can never appreciate against the dollar.....since u were born have u seen it happen. At least not in our life time.

A structured economy like the US against our corrupt, tribalistic and religiously bias country.

The CBN has been pumping in dollars into the system if not by now the dollar would have hit N500.

No balance of trade, we import 80% of the things we consume even toothpick. Our economy depends on the dollar so I can't see the naira gain against it.

Godisfaithful:
It is just very unfortunate when it comes to the directions of this country. Blame game instead of facing economy realities. Another devaluation looming again but time will tell. Everyone should just be careful with his/her hard earned money. Too many Pharaoh in the wilderness. Just an opinion...

Nnamz:
I think I get what this guy has been trying to say and I'm sure I'm not the only one he has made to seriously consider the benefits of tbills. At first I was very skeptical about him like "what is this ode coming here to say na" but now I'm even thankful to him.

A user here ^ ^ just shared his experience of "investing" 15mN, which later grew to 31mN. Funny thing is that even with the over 16mN interest, he still lost about 12,500 Dollars. Now keep in mind that he would have been better off if he had kept his 15mN in a dorm account. But he didn't cause the 15-18% interest rate at that time was sweeting his body.

This guy has brought up a very thought provoking valid solid point and if you're wise, you would see reason with him. Treasury Bills WILL MAKE YOU POOR.

As for me, I won't cancel any of my current tbills. But moving on, no more tbills of 675,000 Naira every two weeks. I will save my money in a dorm account. And in 5 years time when the US-Naira exchange rate is at say 600 to the dollar, those of you doing tbills, let me know if you are richer than me. A WORD IS ENOUGH FOR THE WISE.

And thanks to that guy who opened some eyes on this forum. You sir are the real MVP

tritritri:
Is it flourmill dat makes this thread empty or wat? 50% of people dan go find another job..the days of Nsempa 24/7 is gone.

Freedem:
It depends on your timing.. I converted 238,000 from euro to naira about 3 years ago.. at the rate of 1 euro to 420 naira. Approximately 100 million naira..

In two years of investing 100mill I managed an average return rate of 15% each year, so in two years 100 million has earned me an interest of 30 million naira.

So what I did was to convert 30 million back into euro , thankfully the naira conversation rate has even appreciated.. and I was able to get 74,000 euros .. rate is now 402 euro to one naira..


So I have my 100million working in Nigeria and 74000 Euros.


This is how you edge against inflation..

Remember all my money in euro was not more than 238000 euro.. meaning ive already gotten 31% of my money back in euro within only two years..

At this rate I estimate in another 6 years I'd have recovered my full euro investment in 6 years.. and still have 100mill sitting in my tbill account.


If for some reason the exchange rate appreciates against the naira, remember I now have Euro that is also appreciating similarly...

So it's a win win.

Think about it.

ayodeji1:
is 350days at 14% from uba a fair deal?

Magnetron:
I've been debited. About 13.2% for 364days tenor, Gtb.
Fair?

mendes911:
Probably, they wouldn't do that till after elections, unless there's a slump in oil price before then. I believe that's part of the catalyst that will trigger the next major bull run.

DOLLARTEX:
they will have to let it go at a point.

Godlylifeoneart:
EMERGING MARKETS AT THE MERCY OF MANY
....dz is a Plagiarized article

What Italy’s debt issue and China’s counter-trade-war efforts could mean for NIGERIA
As far removed as countries like Italy, China and Turkey may appear to be from Nigeria , the local economy has been, and will likely continue to be, negatively impacted by the wide array of seemingly unrelated market issues – such as Italy’s debt woes and China’s retaliatory reaction to the US trade war – through a contagion effect.

Financial markets in Nigeria are particularly vulnerable because of their depth and high level of liquidity. While investor jitters started in Turkey and Argentina, where economic mismanagement was evident, financial markets in these countries are not as deep and liquid as Nigeria , which have been targeted in the latest risk-off episode by the FPI. It is therefore far easier for investors to get out of positions in these tradeable markets, and as a result, our local economy is impacted.

The relative ease of exiting positions in Nigerian financial markets, is why Nigeriancitizens are negatively impacted in an emerging market-wide risk-off episode. When the currency sells off in response to investor fears, the Naira becomes cheaper against major currencies. Sustainable currency depreciation can have a negative effect on inflation outcomes and this could lead to a rise in interest rates if inflation threatens to exceed the 11 to 14% target band for an extended period of time.

In Italy, debt concerns present a risk to global financial markets given the interlinkages between Italian banks and a number of other economies. Should Italy default on its debt, it would create uncertainty in the markets given Italy’s size and interconnectedness.

In a risk-off environment, investors actively seek out less risky assets. Capital tends to stay at home rather than find its way into riskier markets – which is what Nigeria is currently perceived to be – as a precaution to prevent potential losses.

Out of all of the emerging markets, China is likely to impact the Nigerian economy the most in this respect. China is one of Nigeria's largest trading partners, and if Chinese growth softens and demand slows, it would likely diminish Nigeria ’s exports to the region.(25 cargoes of Nigeria oil awaits buyers) link not available

China is also a key user of global commodities and Nigeria is a net exporter of commodities(crude oil) . If China’s demand for commodities drops, the price of commodities that Nigeria supplies to the rest of the world could drop, triggering a negative terms-of-trade (export prices relative to import prices) shock.

While conceding that the Naira (most defended currency in Africa) is likely to remain on the back foot if uncertainty in these emerging markets persists I could warn investors against making any impulsive investment decisions. The reality is that as long as global investors paint all emerging markets with the same brush and remain hesitant to get back into risk assets, the Naira could suffer.

However, for investors with well-diversified portfolios and long-term investment goals, this is the worst time to start moving things around. The best thing that Nigerians can do to protect their investments from these market fluctuations and the current high level of global uncertainty is to stay calm and prevent making rushed short-term decisions.

dammy222:
Pls who knows GT bank secondary rate as at yesterday?

jemypeters:
nope not really...there are some stress-free and far better interest rate investment banks regulated by CBN.... @least the one of my uncle is sure and has bin doing fine... their rates are fairly better and investments beyond 500,000 are non taxed @all. not evn hidden charges...... the company is UT FINANCIAL SERVICES LTD. look it up 1st

Mpeace:
I cannot vouch for any bank's integrity.
Before CBN took over the likes of Intercontinental bank and Oceanic bank, they were among the main players in the banking sector and many saw them as part of the strongest. Ibru was still basking in her award as african banker of the year which award she received in london. Then suddenly sanusi took over and the rest is now history.
FBNH was luck, they delivered the bank form that Bisi of a guy. They are still not totally out of the woods anyway.
For me, it can happen to any bank including gtb.
The problem i have with those in skye is that the signs were there. Cbn started taking over this bank long ago. What we saw yesterday was just a completion of the script.
I continue to laf at CBN's excuse that the shareholders refused to recapitalise since 2016.
How will they recapitalise when CBN's appointees were in charge and had not released any report of the state of the company for shareholders to kw what to do. The same cbn appointees were the ones in the position to convene AGMs and EGMs for that purpose but never did. But they still put the blame in shareholders.

DOLLARTEX:
is it not save to avoid the financial institutions altogether? the bank is big until it fails,Lehman brothers comes to mind.I was fortunate to be in a restaurant with the past CEO of first bank( vi Lagos).He sat down and within 20 mins,this beautiful damsel walked in.immediately,orders started flying in,from chicken and chips,champagne to gizzard,oboy table full oo,I guess he was trying to woo the chick.for my mind I was thinking " na my first bank money be this ooo" unfortunately,the girl no gree,as she walked out with a frowned face.

Yayira:
Actually No long term investment in dead stocks for now you should be saying.. and also the ones dead and trying to resurrect.. No go close..
Skye bank was on life support we all knew that but choose to gamble our money because of greed and fast %%%..
Someone once said why will he buy big caps that can not give him fast 20% ? Well this is one of the reason why we should always go for good fundamental stock and always follow up with them.. any moment their results go missing, you go missing with your money too.

I want to use this opportunity to thank CP
Cp for asking me what I’m doing in Skye banksnd Wema..after that comment, l login and sold my 366 million units @ 50, receiving an haircut of 900k... you spoke sense into me.
God bless you..
900k is better than 2.7 million.

Lol nowadays I’m missing the old CP that’s why I’m always @ you. Please bring back the old CP with real talks (FA and FP)


Hmmmm people are wicked they released 2 year results and promised to release the rest when in fact they knew the bank is gone.. MY GOD !!!

Godisfaithful:
My brother, long term investment in Nigeria has been death long time ago. Choose your stock broker wisely. Some will close down without notice. The tide is turning on them soon. All the best my brother and to all NSEMPA family. It is about to get crazy but we shall overcome.

Yayira:
Lol you want to withdraw your funds? There’s no need for that.. if the money is already in your CSCS account.. even if the money is in their Skye bank account no need to panic.. your money is intact just under another bank.. Morgan can still operate that account just that it’s no longer under Skye.
What’s going on will affect shear holders not customers.
Customers might only face some delay cause there’ll be panics and people will want to withdraw their money..

Anyway make we call them on Monday

Yayira:
Might affect anyone that paid in today oo but I think once they’ve credited your CSCS account you’re safe..
will call them on Monday morning

currentprice:
@ chibuking, hav been following your post. U seems confident that we will have a new government coming may next year. Anyway I wouldnt comment further because here is not the thread to do that.

I will just say don't bet on this

feelamong:
AUCTION RESULTS FOR TODAY 12/09/2018

91 DAYS - 11%

182 DAYS - 12.3%

364 DAYS - 13.50%