₦airaland Forum

Osyxcel:
#50 charge for every Credit you receive into your bank account in excess of #10,000.

Does it increase beyond 50 if the credit rises above a certain threshold?

Please someone should clarify this stamp duty as it relates to savings account... My bank has been charging me 50 for every debit or credit in my account and calling it stamp duty charge

Obj and many of the politicians don't deserve any public infrastructure named after them... Those structures were built with our collective wealth... It's stupid plastering the name of one crook who likely stole from the country on it.


When this country is reborn, those names will be expunged.

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Malami is the evil agent sent to destroy magu.. malami too should go

emmanuelewumi:
Salaries of employees deducted for pension, less than 20% of bank deposits, dividends from investments, rental income.

There is a limit of the total bank deposits that can be Invested in fixed income.

If this was true then Nigeria won't have such a challenge with inflation.

For an economy to balance,

Money supply = value of goods and services available.

If money supply > value of goods and services available then it results is inflation.


Majority of funds put into financial securities come from money not earned by production of goods and services in the real sector.

This money where not earned from producing any good or service, else the economy will continue to run fine with low inflation.

Majority of the funds you see there come from kickbacks from inflated contracts... outrightly embezzled funds that could have been used to provide a service or infrastructure somewhere... money earned from yahoo, scams and other illegal activities that doesn't result in producing real goods or services.

This money end up chasing few goods, resulting in rising inflation....

This money also end up chasing few tbills resulting in over subscription thus leading to low interest.


So Nigeria now has an ugly situation of low interest and high inflation which beats rational thinking because low interest should result in low inflation... or high inflation should result in high interest.

For me, the only way out is an aggressive stimulation of the real sector plus an aggressive, and 100% sincere and effective war against corruption

Modified

For those who choose to read A and understand B, when I say real sector, it includes real estate and stocks.

Godbpraised:
What would you rather have investors do than invest in sukuk or just allow thier money sit ideal in the bank.

Me thinks investing in the sukuk was a fair deal

.

Sukuk is a bad deal.

For example, if you buy gold now and keep with the money, you will earn more than you will earn from sukuk by the time sukuk of now matures.

That's the only certain investment I know won't backfire.

Others involve you doing your due diligence and starting or investing in a business that would pay you above 14% which is the official inflation rate... or above 20% which is the closer to the unofficial inflation rate.

Alternatively, you can look for excellent financial advisors to advise you if you have a significant amount. The fee you will pay them, provided their advise is solid, is certainly going to be a fraction of what you stand to lose in sukuk.

emmanuelewumi:
It is their money, their investments, and their returns.

They are adults, who are solely responsible for their actions and actions.


You need to know that the money invested in fixed income, real estate, portfolio Investments come directly or indirectly from the real sector.


As usual, different strokes for different folks.

Do what works for you and they will do what works for them


It is an exercise in futility taking paracetamol for another person's headache.

@Bolded

Where does majority of money invested in financial instruments come from?

emmanuelewumi:
.




Investors will always go to where they understand and where the security of their investments are assured.


We have more investments in the real sector compared to fixed income Investments.

Compare the total funds in fixed income Investments with the size of our economy. The stock market has a capitalisation of about N14 trillion, these are businesses operating in the real sector.


Are you suggesting that salaried workers should resign and jump into the real sector? Most of the small and middle scale businesses are all in the real sector and the largest employers of labour.


Investors will always invest in the businesses of players in the real sectors who complied with their investment objectives.


Operators should understand the language of finance and incorporate what financiers/Investors look out for.

Players in the real sector should have a system and structure in their businesses, and investors will be rushing to invest in them


Intelligent Investors are not gamblers.


Different strokes for different folks.

Investors are rational and not sentimental.


PE equity Investors are still investing hundreds of billions of Naira in real secror investments that scaled through their stringent criteria

Investors ought to be rational but I guess being rational is mostly subjective in this part of the world.

Information asymmetry exist so much in our economy that makes making rational decisions difficult. Thus, supposed rational decisions turn to irrational decisions if examined under the microscope of economics. This is worse in the financial sector where most investors just rush at financial instruments offering interest rates that can't even cover for inflation...

Look at sukuk for instance... 11.2% interest rate while official inflation rate is (14%)... unofficial inflation is over 20%.

Would you say that investing in Sukuk is rational given these parameters?

The real sector as represented by the stock market is the another good alternative right now because it also represents individuals pulling resources together to invest in the real sector.

A downside to them is you have to do your due diligence to avoid putting your money into a sinking company.

Salary Earners Quitting Their Job?

I certainly can't suggest that they quit their job... But putting their hard earned salary in interest bearing investments that pay less than 14% is bad investment because they are losing in the real sense.

emmanuelewumi:
It is not an alternative. Sukuk has been around for long

Treasury Bills are for a minimum of 91 days, bonds and Sukuk are for a minimum 3 years.

Sukuk is not different from bond, it is a Sharia compliant debt instrument that does invest in lottery, brewery, pornographic and usury investments. Reason why they don't pay coupons but rental.


It is their money, it is their investments, it is their low returns on investment. Good luck to them..

I understand Sukuk is not a direct alternative but to Investors it is an alternative... For example, if you look at this thread like last January, everyone was rushing to invest in treasury bills cos of the high interest.... Now, most people are moving to Sukuk because they see that treasury rate has fallen... The fall of treasury rate is also driving down other interest bearing instruments in the money market, so few are very excited to seek direct alternatives to tbills because all of their interest are dragging who will start discover crude oil below the Sahara desert.


@OgogoroFreak

I understand how screaming real sector sounds like beating a worn out drum but believe me, it is were everyone needs to go into now if they are desirous of Saving their money, or better still, just buy gold and keep since gold always appreciate and immune from inflation.

Also, when I say real sector, I do not mean carry your money and go invest in a saturated market. That would be unwise.

Instead, there are markets where there is low competition and high demand for basic things that people can't do without...e.g food and shelter...

For food, how many people have the capacity and facilities to grow rice and process it, including it's byproducts? Rice is in high demand and will always be in demand because it is a staple food consumed by most households in Nigeria...

Since the ban on rice, do you see how price of Nigeria rice is climbing up due to insufficient supply?

We throw billions and trillions into treasury bills and sukuk that are waiting to be looted...

The government organised itself and created a means to pool/collect our money together for their use, in return for interest that inflation will wipe off... why can't we organise ourselves, pool our funds together and create a business like rice farming and processing... oil processing from palm kernel?

If we as citizens can't organise ourselves, is it the government peopled by thieves that will organise us?

The second basic need is shelter... The billions we keep throwing to government, what if we organise ourselves and go into real estate, building accommodation in areas with high demand for such?

Summary

I could go on and on listing examples but the summary is that one should look for opportunities that exist in the real sector, opportunities that are not saturated and can safely be executed with our existing level of infrastructure...and invest in such opportunities.

We can either organise ourselves and operate jointly or organise ourselves and operate independently... pool our skills and knowledge together and divert our resources into productive use.

Just like we have done here by coming together to share information on tbills when it was going good, now that tbills has become unprofitable, let's use the same means to organise ourselves and go into other profitable real sector investments...


Nigeria is not a place where you become rich from buying interest yielding securities... You will smile at the interest but inflation will steal it all away and some more, without using violence.

ahiboilandgas:
nice concepts...but was has been the effect of low tb rates has it trigger the real econmomy? as envisaged

It ought to trigger the real economy but the government brought out alternative to treasury bill which is Sukuk or so.

So majority are now diverting their funds into sukuk instead of the real economy, and with the problem of massive corruption still on ground, we will likely end up with same result in future, poor infrastructure, low interest rate, low interest in real business and everyone looking for where to dump their cash...

Meanwhile, inflation will have raised a loaf of bread that used to cost 100 now to 500 then, effectively reducing the real value of your money.


The Truth

A lot of people jump into investment without analyzing if they will lose at the end.

If you see interest rate of 11% now (eg Sukuk interest rate) and jubilate, your joy is for nothing because inflation is close to 20% or higher in Nigeria while NBS keep lying and telling everyone inflation is 14%.

Even at inflation rate of 14%, you still lose around 3% of your money yearly, money invested in sukuk or other interest bearing investment that pays 11%... That is 14% inflation rate - 11% interest rate...

By the time you compound over 2 or more years and something extraordinary happens that drives inflation much higher... My brother, your cash investment will just be turning to worthless tissue paper without you knowing.

My Point?

Any security investment that doesn't pay higher than inflation rate in Nigeria is worthless... If you choose to believe inflation rate of NBS you are on your own.

Go into the market and collect a basket sample of goods and calculate it's inflation rate compared to this time last year. The truth will shock you more than those in Aso Rock.

Way Forward

Put you money into real sector... agriculture, manufacturing, services directly.

Look for people to support their business and ensure you have firm oversight over the business or appoint someone to perform the oversight for you if you are too busy... I'll be glad to act in that capacity for anyone who is interested.

No matter how bad the infrastructure level is presently in Nigeria, investing in the real sector is currently better than investing in the financial sector. This will remain true as long as interest rate in the financial sector is lower than inflation rate, the destroyer of purchasing power.

Problem 1

There's so much cash flowing in the country and most of these are not being put to productive use because many of the ingredients needed for businesses to thrive are lacking, power especially.

Problem 2

Treasury bills was being used to mop up excess liquidity or cash in the system...hence the initial attractive rates... however, this created or creates two problems....

With a corrupt government, most of the funds realized from treasury bills sales end up being looted and funnelled again into treasury bills, instead of being use to provide real infrastructure.

Second problem it created or creates is that high interest on treasury bills kills the spirit of productivity and ingenuity and commerce and all those positives that lead to more thriving businesses....

Everybody would rather sit back, throw their money to the government to earn interest and do nothing, expecting the government to use the funds wisely to create infrastructure... Unfortunately, most of it is looted and returned to treasury bills or other financial instruments.

Solution 1

Treasury bills rates needs to/have been crashed to discourage Nigerians from putting their money there... This is to force us or indirectly encourage everyone to invest in the real sector or watch inflation wipe away the value of your idle cash.

Everyone seems to be turning to other repackaged government financial investments but it seems we will only end up making the same mistakes made with treasury bills, especially if we still have hawks in government waiting to loot any funds realized by selling such investments to Nigerians.

Appeal

Please, those who are more experienced in the area of commerce and real sector investments should promote their ideas and take in willing candidates and mentor them

There are millionaires and even billionaires in this this group... Let us come together and set up businesses... If we can pull resources together, there are profitable businesses that we can go.

Examples

1. Nothing stops us from pulling resources together, buying or renting a large expanse of land and setting up cattle ranches in areas in the West, South or East. This solves the incessant farmer herders clashes.

2. How about pulling resources together and setting up a factory to mill palm kernel oil? This is a very profitable business if setup and managed well, and I know a place where this will be very profitable but limited by lack of funding and technical know-how which someone or some persons in this thread may have.

This country is ours and we will either build it or destroy it unknowingly by our actions and inactions

They keep calculating how to scheme their way into the location of the national purse... May COVID-19 wipe you all enemies of progress in this country off the surface of the earth.

The killings in recent times is highly suspect.

I believe that boko haram has changed tactics... Split up into tiny groups then live among people and kill randomly..

Unfortunately, Nigeria is overflowing with the most stupid set of media practitioners in the world who instead of carrying out proper investigation would rather label everything fulani herdsmen to spite a certain ethnic group and indirectly spite the president who is from that ethnic group.

Have USD dorm funds to sell? Reach out to me. Cheers!

Well it's high time both heads clash so progress can be recorded in the fight against insecurity and poverty and all the negativity in Nigeria.

Ahmed Lawan's Sinate should stop acting like they are sucking the balls of Buhari's Presidency when it comes to national interest.

Buratai and all the other non performing service chiefs should go... The people no longer believe in your leadership...

Malami too should go...

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Great Research... While our professors and PhD lectures in Nigeria universities keep reciting outdated lecture notes and selling handouts and lecturing in two or more higher institutions with same outdated techniques instead of proper research to uplift Nigeria... Some people need to face firing squad in this country for progress to come

This is something that can be solved with the right monetary incentive... Look for someone who has information on the issue and is also in need of money... Invite the person to a meeting and display the cash and tell the person that he/she can go with the money if they can provide the information you seek. If they do, give them the money and go reunite with your mom.

You can also do this via a third party... The person helps you contact those who has information on the issue, invites them to a live meeting and offers cash reward.

Potential candidates are those who are not too close to your dad and so won't care ratting him out.

The money you will likely lose if you continue being distressed and unfocused on your business can be used to solve this problem.

Please take it easy. My heart and prayers are with you.

You can send me a message so we can talk and see if it's possible for me to help you carry out the investigation subject to distance.

Cc: Godlovesyou28

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Welcome to Nigeria where looters, militants and thieves are congratulated and celebrated daily.

Gold is the real currency... Not the dollar America prints to buy off natural resources of third world nations in the name of globalisation and free trade

signz:
They should not be compelled. if you dont like DSTv simply switch to FG owned Star Times.

let Star Times get EPL without funds from FG and see if they won't be as expensive as DSTV

Are you a DSTV agent?

Would you like the rest of your airtime wiped off if you don't finish it within a month?

I don't how people like derive pleasure in seeing businesses cheat.

Great. GoTV and DSTV should be compelled to adopt pay as you go.

Imagine recharging your phone with 5k and then the credit being wiped off at the end of the month because you were not able to use it. It's outright robbery.

Th same time limit should be removed from data or set to 4 months minimum for any data bundle.

Network providers and digital tv providers are stealing in broad daylight from Nigerians and the government should stop sleeping and protect it's people